Oct 30, 2018

Facebook stock down slightly after mixed Q3 earnings

Photo illustration: Jaap Arriens/NurPhoto via Getty Images

Facebook's stock was down slightly in after-hours trading Tuesday after the company blew past investor expectations for earnings, but missed on user growth and revenue.

Why it matters: The company advised last quarter that revenue growth rates would decline by high single digit percentages from prior quarters. Revenue was up 33% year over year.

By the numbers, via CNBC:

  • Earnings per share (EPS): $1.76 vs $1.47 estimated, per Refinitiv
  • Revenue: $13.73 billion vs. $13.78 billion estimated, per Refinitiv
  • Estimated daily active users (DAUs): 1.49 billion vs. 1.51 billion estimated, according to FactSet and StreetAccount
  • Monthly active users (MAUs): 2.27 billion vs. 2.29 billion estimated, according to FactSet and StreetAccount
  • Average revenue per user: $6.09 vs. $6.09 estimated, per 2.29 billion, according to Street Account

New: Just as it did last quarter when it shared that 2.5 billion people use at least one of its app every month, Facebook revealed this quarter that 2 billion people use at least one of its apps every day. The monthly user number is now 2.6 billion, it said on Tuesday.

Between the lines:

  • Ad revenue continues to migrate to mobile, with 92% of Facebook's total ad revenue now coming from mobile.

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Wisconsin Supreme Court blocks governor from delaying state's primary

Tony Evers. Photo: Nuccio DiNuzzo/Getty Images

Wisconsin's Supreme Court on Monday blocked an executive order by Gov. Tony Evers (D) that attempted to delay in-person voting for the state's primary election — currently scheduled for Tuesday — until June 9.

Driving the news: Judges ruled 4-2 along ideological lines that Evers does not have the power as governor to unilaterally postpone the election, despite the fact that the state has a stay-at-home order in place due to the coronavirus pandemic.

Go deeperArrowUpdated 34 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 1,331,032 — Total deaths: 73,917 — Total recoveries: 275,851Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 356,942 — Total deaths: 10,524 — Total recoveries: 18,999Map.
  3. 2020 update: Wisconsin governor orders in-person primary voting delayed until June.
  4. States latest: West Coast states send ventilators to New York and other states with more immediate need — Data suggest coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  5. World update: U.K. Prime Minister Boris Johnson moved to intensive care as coronavirus symptoms worsen.
  6. Stocks latest: The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Stocks jump 7% despite bleak coronavirus projections

People passing by the New York Stock Exchange amid the coronavirus pandemic. Photo: John Nacion/NurPhoto via Getty Images

The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.

Why it matters: The huge market surge comes amid rare optimistic signs that the spread of the coronavirus may be slowing in parts of the country, including New York. But government officials say this will be a difficult week, while economists — including former Fed chair Janet Yellen today — warn that the pandemic could have a catastrophic impact on the global economy.