Facebook stock plummets 26%, on pace for its biggest one-day drop ever
Shares of Facebook parent Meta were down more than 26% Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter. It also said it's taking a big hit from Apple's privacy changes, and showed the first quarterly decline in daily active users on record.
The stock is on pace for its biggest one-day drop ever, ahead of the 19% plummet it saw in July 2018. Thursday's drop is set to shave more than $230 billion from its market cap, bringing it to about $664 billion.
The company, which released earnings under its new name for the first time with a new reporting structure, missed earnings estimates for the fourth quarter at $3.67 vs. $3.84 analysts were expecting, according to Refinitiv. But it beat on revenue for the quarter, at $33.67 billion vs. $33.4 billion estimated.
Still, its revenue forecast of $27 billion to $29 billion for the first quarter fell below analyst expectations of $30.15 billion, according to Refinitiv.
The company said Apple's iPhone privacy changes, which impact its ad-targeting and measuring, would result in a $10 billion revenue hit this year. It also said macroeconomic challenges like inflation and supply chain disruptions, are weighing on advertiser budgets.
Facebook is also leaning more heavily into products that generate less revenue in the short term but that executives believe have large growth potential, like Reels on Instagram. The company's core social media business, reported under its Family of Apps, made $32.79 billion in revenue in the quarter with operating income of $15.89 billion.
Meta broke out its Reality Labs segment for the first time, comprising its future-focused business that aims to develop the metaverse. The segment made $877 million in revenue in the fourth quarter with an operating loss of $3.3 billion. The segment lost $10 billion last year, and those losses are growing as it bets on the metaverse.
Other social media stocks were down Thursday following Facebook's plunge. Shares of Snap were down more than 22% Thursday, Pinterest shares are down 9% and Twitter shares are off more than 6%.
Facebook 母公司 Meta 的股价周四下跌超过 26%，此前该公司预测下一季度的收入增长低于预期。它还表示，它受到了苹果隐私变化的巨大打击，并显示出有记录以来每日活跃用户数量首次出现季度下降。 在 2018 年 7 月暴跌 19% 之前，该股有望创下有史以来最大的单日跌幅。周四的跌幅将使其市值减少超过 2300 亿美元，使其达到约 6640 亿美元。
Refinitiv 的数据显示，该公司首次使用新的报告结构以新名称发布了收益，该公司第四季度的收益预期为 3.67 美元，而分析师的预期为 3.84 美元。但该季度的收入超过了 336.7 亿美元，而估计为 334 亿美元。
尽管如此，根据路孚特的数据，其第一季度 270 亿美元至 290 亿美元的收入预测仍低于分析师预期的 301.5 亿美元。
该公司表示，苹果的 iPhone 隐私变化会影响其广告定位和衡量，今年将导致 100 亿美元的收入受到打击。它还表示，通货膨胀和供应链中断等宏观经济挑战正在影响广告商的预算。
Facebook 也更倾向于在短期内产生较少收入但高管认为具有巨大增长潜力的产品，例如 Instagram 上的 Reels。该公司的核心社交媒体业务在其应用系列下报告，本季度收入为 327.9 亿美元，营业收入为 158.9 亿美元。
Meta 首次推出了 Reality Labs 部门，其中包括旨在开发 Metaverse 的面向未来的业务。该部门第四季度的收入为 8.77 亿美元，运营亏损为 33 亿美元。该部门去年损失了 100 亿美元，而且随着它押注于元界，这些损失正在增加。
在 Facebook 暴跌后，其他社交媒体股票周四下跌。 Snap 股价周四下跌超过 22%，Pinterest 股价下跌 9%，Twitter 股价下跌超过 6%。
