Meta will announce its third quarter results today as the markets close. After a tough second quarter that fell behind expectations, the company’s third quarter figures are also eagerly awaited. The expectations for the third quarter for the tech giant do not look very encouraging either.
The decline in Meta’s revenues looks set to continue
Although Meta announced its partnerships with Microsoft and Accenture in the third quarter, things are not going well. While the company’s rating has dropped this month, its stocks have also experienced a significant decline. Analysts do not speak positively about the company, which has experienced a decrease in the number of daily active users of its platforms. In addition, various problems in advertising after TikTok took the lead in the competition and Apple changed its privacy policy also negatively affected the company’s situation.
It is predicted that the company’s revenues will decrease by 10 billion dollars with the change of Apple’s privacy policy alone. Meta shares have fallen nearly 58 percent since last year. For these decreases, the reason is that the company focuses too much on the metaverse universe.
Meta CEO Mark Zuckerberg recently stated that they are cutting other spending in order to accelerate their metaverse investments. In addition, it is stated that the exit of the company from its main field of activity frightens the investors, and it is stated that it needs to regain trust in the field of social media.
The expected third quarter figures for Meta are as follows:
Revenue: $27.4 billion
Earnings per share: $1.88
Number of active Facebook users: 1.86 billion people
The company’s revenues continue to decline as meta has turned its eyes to the metaverse universe. So what do you think about the policy followed by the company and the third quarter figures? You can share your views with us in the comments section.
