Best Accounts. Stock Market Basics. Stock Market. Industries to Invest In. Getting Started. Planning for Retirement. Retired: What Now? Personal Finance. The company said in a press release earlier on Thursday that it will be represented in an online panel next week alongside Facebook Reality Labs to discuss the future of augmented reality eyewear.
On behalf of Metamaterialtec I would like to cordially welcome Facebook to the metaverse. Another apparent mix up happened in February when shares of a tiny branding and communications firm called Clubhouse Media spiked as investors apparently confused it with the then-trendy social audio app Clubhouse , which is not traded publicly. Tickers, Articles and Keywords:. Chris Katje , Benzinga Staff Writer.
October 28, pm Comments. View the discussion thread. Need newswire data? Click here to see licensing options. Subscribe to:. Those growth rates held steady over the past year, even as Facebook grappled with a whistleblower crisis , a streak of negative headlines, and regulatory threats to break up the company.
During the call, Zuckerberg called the whistleblower reports a "coordinated effort to selectively use leaked documents to paint a false picture of our company," and stated that "polarization started rising in the U. Zuckerberg said Facebook would continue to ramp up its investments in safety and security to protect its users, but noted that it couldn't fix the underlying polarization "by itself" if social media wasn't the root cause of those issues.
Instead of focusing too heavily on the ad business' temporary headwinds and controversies, Facebook emphasized the expansion of its metaverse business with new VR headsets, experiences, and upcoming AR devices. Starting in the fourth quarter, Facebook will start breaking out the financials for its "Facebook Reality Lab", which includes its VR and AR products, to give investors a clearer view of its growth potential beyond targeted ads.
However, a lot of those buybacks will likely be spent on offsetting its dilution from stock bonuses instead of boosting its earnings per share EPS. Facebook is growing a lot slower than Snap, and it faces many of the same headwinds. However, Facebook's stock didn't crash after its earnings report because it was already trading at much lower valuations than Snap.
Those expectations caused its stock to trade at over 30 times this year's sales before its revenue miss, and soft revenue guidance for the fourth quarter torpedoed its stock. Meanwhile, Facebook still looks reasonably valued at 21 times forward earnings and less than eight times this year's sales. Therefore, Facebook's downside potential should be limited at these levels -- and it could climb much higher if it weathers the near-term platform and regulatory headwinds.
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