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