Social media giant Facebook posted Q3 EPS of $3.22, beating the analyst expectations with quarterly revenue missing estimates, according to a press release by FB on Monday.
- Facebook daily user activity increased by 6.0% year-over-year to reach 1.93 billion on average for September.
- Facebook plans to invest significant resources in augmented and virtual reality products and services that are an important part of the work to establish the next generation of online social experiences.
- Mark Zuckerberg, Facebook founder and CEO, stated that he was excited about the company’s roadmap, more so around creators, commerce, and helping to develop the metaverse.
- The social media platform has been receiving negative attention after a former Facebook employee disclosed explosive internal documentation allegations of major flaws with the huge social network.
For Q4, the social-media firm expects total revenue to range from $31.5 billion to $34 billion, signaling uncertainty facing the company over Apple’ iOS 14 Changes, and macroeconomic factors. FB up 1.92%, Pre-market trading.