Tuesday, May 17, 2022

Meta Platforms, Inc. (FB) Stock on a Precipitous Slide, Here’s the Reason

Meta Platforms, Inc. (FB), a company that develops products that enable people to connect and share with friends and family, has plunged 22.89% in aftermarket trading session and consequently is trading at $249.05 at the time of the writing. During Wednesday’s regular trading session, the stock had a nominal increase of 1.25% and closed the day at $323. The slide in aftermarket could be attributed to the announcement of quarterly results as well as the outlook falling short of the estimates.


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FB Q4 2021 Results

In the late hours of Wednesday, FB released the results for the fourth quarter of the fiscal year 2021. The quarter ended on 31st December 2021. The company generated total revenue of $33.6 billion during the quarter against $28.07 billion for the same quarter of 2020. The total costs and expenses for the three months stood at $21.08 billion against $15.2 billion for the same three-month period of 2020. The net income generated by the company during the period was estimated to be $10.2 billion (or diluted EPS of $3.67) against $11.2 billion (or diluted EPS of $3.88) for the same period of 2020.

FY2021 Results


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Alongside, FB also reported the results for the fiscal year 2021. The company generated total revenue of $117.9 billion during the year against $85.9 billion for fiscal 2020. The total costs and expenses for the 12 months were $71.1 billion against $53.2 billion for the previous fiscal year. The net income generated by the company during the fiscal year 2021 was $39.3 billion (or diluted EPS of $13.77) against the net income of $29.1 billion (or diluted EPS of $10.09) for the fiscal year 2020.

Outlook for Q1 and FY2022

Looking at the future, FB reported the outlook for the upcoming quarter as well as for the fiscal year 2022. The company expects the first quarter of 2022 revenue to be in the range of $27 to $29 billion. That represents a growth of 3 to 11% on a year-over-year basis. The expected expenses for fiscal 2022 lie in a range of $90 to $95 billion, updated from the previous outlook for $91 to $97 billion. The expense growth would be driven by investments in technology and product talent. The company expects the capital expenditure for fiscal 2022 to lie in the range of $29 to $34 billion, driven by investment in infrastructure.

Future Outlook for FB

Stats reveal that during the last month, FB stock has mostly remained unchanged, even though the previous week has proven to be fantastic for the stock. Looking ahead, the analysts believe that even though the stock holds several positive signals, at the current level, it should be considered a hold candidate while waiting for any further developments.

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