Snap disappointed people and Facebook did too: Evercore ISI’s Mahaney

Subscribe to The Global Herald in Google News

CNBC Television published this video item, entitled “Snap disappointed people and Facebook did too: Evercore ISI’s Mahaney” – below is their description.

Mark Mahaney, Evercore ISI head of internet research, and Edmund Lee, The New York Times reporter, join ‘Closing Bell’ to talk about Facebook’s earnings results. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Snap shares plummeted 26.6% after it reported its quarterly results, which included a revenue miss as well as an earnings beat. The social media company said its advertising business declined due to Apple’s privacy changes.

Facebook shares rose more than 3% in extended trading on Monday after the company reported better-than-expected third-quarter earnings even as revenue missed analysts’ estimates.

Facebook also said it’s increasing its share buyback program by $50 billion.

Here are the results.

Earnings: $3.22 vs $3.19 per share expected by analysts, according to Refinitiv.

Revenue: $29.01 billion vs $29.57 billion expected by analysts, according to Refinitiv.

Daily active users (DAUs): 1.93 billion vs. 1.93 billion expected by analysts, according to StreetAccount.

Monthly active users (MAUs): 2.91 billion vs. 2.93 billion expected by analysts, according to StreetAccount.

Average revenue per user (ARPU): $10.00 vs $10.15 expected by analysts, according to StreetAccount.

The company announced its plans to break out Facebook Reality Labs into its own reporting segment starting

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC

» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-news-with-shepard-smith-podcast.html?__source=youtube%7Cshepsmith%7Cpodcast

Connect with CNBC News Online

Get the latest news: http://www.cnbc.com/

Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC

Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC

Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC

Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

https://www.cnbc.com/select/best-credit-cards/

#CNBC

#CNBCTV

CNBC Television YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.


Subscribe to The Global Herald in Google News

About This Source - CNBC Television

CNBC is an American pay television business news channel, which primarily carries business day coverage of U.S. and international financial markets. Following the end of the business day and on non-trading days, CNBC primarily carries financial and business-themed documentaries and reality shows.

As of February 2015, CNBC is available to approximately 93,623,000 pay television households (80.4% of households with television) in the United States.

Recent from CNBC Television:

  • What’s next for Twitter after Jack Dorsey’s departure
  • Regeneron reports antibody treatment is less effective against omicron variant
  • Elliott Management supports leadership change at Twitter
  • In This Story: New York Times

    The New York Times is an American newspaper based in New York City with worldwide influence and readership. Founded in 1851 and nicknamed “the Gray Lady”, the Times has long been regarded within the industry as a national “newspaper of record”.

    2 Recent Items: New York Times

  • These moments made Stephen Sondheim the master of the musical
  • Wall Street expected to dole out record bonuses this year: NY Post’s Moynihan
  • Leave a Comment

    We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please verbalise where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.

    Posting....