Facebook Earnings: FB Falls 6.6% Despite Q4 Beat

Facebook (NASDAQ:FB) earnings for the social media company’s fourth quarter of 2019 have FB stock taking a beating after-hours Wednesday. That’s despite its diluted EPS of $2.56 beating Wall Street’s estimate of $2.53. Revenue of $21.08 billion is also better than analysts’ estimates of $20.89 billion.

Facebook Earnings: FB Stock Falls 6% Despite Beating Q4 Estimates

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Here’s a closer look at the key items coming out of Facebook’s earnings report:

  • Diluted per-share earnings are 7.56% higher than $2.38 in the same period of the year prior.
  • Revenue for the quarter comes in 24.66% above the $16.91 billion from Q4 2018.
  • Operating income of $8.86 billion is 13.30% better YoY than $7.82 billion.
  • Facebook’s report also puts net income at $7.35 billion.
  • That’s a 6.83% increase over the company’s net income of $6.88 billion from the same time last year.

Facebook founder and CEO Mark Zuckerberg has this to say about the FB stock earnings report.

“We had a good quarter and a strong end to the year as our community and business continue to grow. We remain focused on building services that help people stay connected to those they care about.”

Leaders of the social media company will be going over the Facebook earnings report in a conference call today. The conference call will start at 5:00 p.m. Eastern Time. It will be available via a webcast on the company’s website.

FB stock was down 6.63% in after-hours trading on Wednesday. The stock closed out the day up 2.50%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/01/facebook-earnings-drop-fb-stock/.

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