Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen kkkkkkkkkayd for the clue delivery! Beijing time, October 27, Facebook parent company Meta today released its unaudited financial results for the third quarter of fiscal year 2022 ended September 30. According to the report, Meta's third-quarter revenue was $27.714 billion, down 4% from $29.01 billion in the same period last year, up 2% year-on-year excluding currency changes; net profit was $4.395 billion, down 52% from $9.194 billion in the same period last year; diluted earnings per share were $1.64, down 49% from $3.22 in the same period last year.

Meta's third-quarter revenue beat Wall Street analysts' expectations, but earnings per share failed to meet expectations and its fourth-quarter revenue outlook fell short of expectations, causing its shares to fall nearly 20 per cent in after-hours trading on Nasdaq.

Main results:-- Meta's revenue in the third quarter was $27.714 billion, down 4% from $29.01 billion in the same period last year, and 2% year-on-year growth excluding exchange rate changes

-- Meta's third-quarter operating profit was $5.664 billion, down 46 per cent from $10.423 billion in the same period last year. Meta's operating margin was 20% in the third quarter, compared with 36% in the same period last year.

-- Meta's third-quarter net profit was $4.395 billion, down 52% from $9.194 billion in the same period last year

-- Meta's diluted earnings per share were $1.64 in the third quarter, down 49% from $3.22 in the same period last year.

Operational points:-in September 2022, the average number of daily active users of the "family" of Meta services (which includes Meta, Instagram, WhatsApp and Messenger services) was 2.93 billion, an increase of 4 per cent over the same period last year

As of September 30, 2022, the number of monthly active users of the "family" of Meta services was 3.71 billion, an increase of 4 per cent over the same period last year.

-- in September 2022, the average number of daily active users of Meta was 1.98 billion, an increase of 3 per cent over the same period last year

-- as of September 30, 2022, the number of monthly active users of Meta was 2.96 billion, an increase of 2% over the same period last year.

In the third quarter of fiscal 2022, the advertising impression delivered by the entire Meta app family increased by 17% compared with the same period last year, but the average price per ad decreased by 18% compared with the same period last year.

-- Meta's total costs and expenses in the third quarter were $22.05 billion, an increase of 19% over the same period last year, including a $413 million impairment loss on certain operating leases, as part of the company's efforts to keep its office footprint in line with expected operating requirements.

-- Meta's third quarter capital expenditure (including principal payments on financial leases) was $9.52 billion

In the third quarter, Meta bought back $6.55 billion worth of Class A common shares. As of September 30, 2022, Meta can also buy back $17.78 billion worth of shares under a previously authorized share repurchase program.

-as of September 30, 2022, the total cash, cash equivalents and marketable securities held by Meta amounted to US $41.78 billion

As of September 30, 2022, Meta's long-term debt was $9.92 billion.

As of September 30, 2022, Meta had a total of 87314 employees, an increase of 28% over the same period last year.

Financial analysis: revenue: Meta's third-quarter revenue was $27.714 billion, down 4% from $29.01 billion in the same period last year, and 2% year-on-year growth excluding currency changes. If the exchange rate for the third quarter of fiscal 2022 is the same as that for the third quarter of fiscal 2021, Meta's revenue for that quarter will increase by $1.79 billion.

Meta's advertising revenue in the third quarter was $27.237 billion, down 4 per cent from $28.276 billion in the same period last year and up 3 per cent year-on-year, excluding currency changes.

Meta's third-quarter revenue from payments and other services was $192 million, compared with $176 million in the same period last year.

Costs and expenses: Meta's total costs and expenses in the third quarter were $22.05 billion, an increase of 19% over the same period last year, including a $413 million impairment loss on some operating leases, as part of the company's efforts to keep its office footprint in line with expected operating requirements. Of this total, revenue costs were $5.716 billion, compared to $5.771 billion in the same period last year; R & D expenditure was $9.17 billion, compared to $6.316 billion in the same period last year; marketing and sales expenses were $3.78 billion, compared to $3.554 billion in the same period last year; general and administrative expenses were $3,384 million, compared with $2,946 million in the same period last year.

Operating profit: Meta's third-quarter operating profit was $5.664 billion, down 46% from $10.423 billion in the same period last year.

Operating margin: Meta's operating margin was 20% in the third quarter, compared with 36% in the same period last year.

Income tax expenses: Meta's income tax provision was $1.181 billion in the third quarter, compared with $1.371 billion in the same period last year, down 14% from a year earlier. The effective tax rate for Meta in the third quarter was 21%, compared with 13% in the same period last year.

Net profit: Meta's third-quarter net profit was $4.395 billion, down 52% from $9.194 billion in the same period last year

Meta's diluted earnings per share were $1.64 in the third quarter, down 49% from $3.22 a year earlier.

Capital expenditure: Meta's capital expenditure was $9.52 billion in the third quarter, including principal payments on financial leases.

Cash and marketable securities: at the end of the third quarter of 2022, Meta held a total of $41.78 billion in cash, cash equivalents and marketable securities.

Free cash flow: Meta's free cash flow was $173 million in the third quarter, compared with $9.547 billion in the same period last year.

Comparison of performance indicators with analysts' expectations: Meta's third-quarter revenue was $27.714 billion, beating Wall Street analysts' expectations. On average, 40 analysts had expected Meta's third-quarter revenue to reach $27.38 billion, according to data compiled by Yahoo Finance.

Meta's diluted earnings of $1.64 per share in the third quarter fell short of Wall Street analysts' expectations. On average, 38 analysts expect Meta to earn $1.89 a share in the third quarter, according to data compiled by Yahoo Finance.

In addition, Meta expects fourth-quarter revenue of between $30 billion and $32.5 billion, and its average of $31.25 billion fell short of analysts' expectations. According to data compiled by Yahoo Finance, 40 analysts on average expect Meta's fourth-quarter revenue to reach $32.31 billion, while 37 analysts expect Meta's fourth-quarter earnings per share to reach $2.59.

As a result, Meta shares fell nearly 20 per cent in after-hours trading on Nasdaq.

In terms of user data, the average number of daily active users of Meta in September was 1.98 billion, in line with expectations. Analysts had expected Meta to reach 1.98 billion daily active users, according to data provided by analyst firm StreetAccount. As of September 30, 2022, Meta had 2.96 billion monthly active users, exceeding expectations. Analysts had expected the number of monthly active users of Meta to reach 2.94 billion, according to data provided by analyst firm StreetAccount.

In addition, Meta's average revenue per user in the third quarter was $9.41, beating analysts' expectations. Analysts had expected Meta's average revenue per user to reach $9.83 in the third quarter, according to analyst firm StreetAccount.

Share price movements: Meta shares fell $7.69, or 5.59%, to close at $129.82 in regular trading on the Nasdaq. In after-hours trading as of 06:05 EDT on the 26th (06:05 Beijing time on the 27th), Meta shares fell another $25.72, or 19.81%, to $104.10, breaking the 52-week low. In the 52 weeks to Wednesday's close, the Meta has a high price of $353.83 and a low price of $122.53.

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