馃攳
Meta misses on top and bottom - YouTube
Channel: CNBC Television
[0]
look
[0]
no disrespect to mark zuckerberg cheryl
[2]
sandberg's the smartest person in most
[4]
rooms she walks into um so i don't think
[6]
that decision was made lightly uh and i
[9]
don't think it's over you know spending
[10]
on a wedding or whatever nonsense it's
[12]
just a it's it's just a recognition that
[15]
oh man we're now committed to spending a
[18]
decade dumping billions of dollars into
[20]
something that may or may not turn into
[22]
a product and all of our core businesses
[25]
are under assault i don't know that
[27]
that's such a great setup
[29]
the redesign of instagram is not being
[31]
well received uh
[33]
tick tock is not going to stop uh
[36]
pulling attention away the core facebook
[38]
brand is
[40]
it's almost like uh the macarena at this
[42]
point like it's it's like if somebody
[44]
says they did or said something on
[45]
facebook you almost half think that
[47]
they're joking so that's a very tough
[49]
position for the company to be in that's
[51]
why it's 50 off it's high and i don't
[54]
know that one quarter turns things
[56]
around especially interrupt you consider
[58]
that they're trying
[60]
yeah forgive me let me interrupt you
[61]
julia borson has met as we speak julia
[65]
scott meta missing on the top and bottom
[68]
lines reporting revenue of 28.82 billion
[72]
versus the 28.94 billion that analysts
[74]
estimated earnings also missing coming
[77]
in at 2.46 versus the 2.59
[81]
that analysts had estimated also looking
[84]
at daily active users
[86]
the daily active users were a slight
[88]
beat
[89]
1.97 billion daus just a hair ahead of
[93]
the 1.96 billion estimated mau's are
[96]
amiss
[96]
2.93 billion a hair lighter than
[99]
expectations revenue guidance coming in
[102]
lighter than expectations the company is
[104]
saying the third quarter revenue will be
[105]
between 26 and 28.5 billion the analyst
[109]
consensus we have for third quarter
[112]
revenue um is is 30.5 billion so that
[115]
guidance is coming in light and we see
[117]
meta
[118]
currently trading down nearly six
[120]
percent scott
[122]
and the thing you were looking forward
[123]
to uh most of all i think it's fair to
[125]
say julie is the revenue number is they
[126]
were expected to post the first ever
[128]
decline did they in fact do that
[132]
yes so the revenue did decline so it was
[135]
really the revenue growth rate is
[136]
declining so that's the question um and
[139]
it did revenue did come in lighter than
[141]
estimates so this is the first time uh
[143]
in meta's history that the revenue has
[146]
declined um so that's something to watch
[149]
there but also to me the fact that the
[150]
guidance is light that's likely the
[152]
factor that's most weighing on the stock
[154]
right now
[155]
gotcha appreciate having you uh julia
[156]
borsen thank you we'll talk to you again
[158]
soon uh if in fact you need to pop back
[160]
on please let us know stephanie link
[161]
joins us now she of course is cnbc
[163]
contributor hightower advisors chief
[165]
investment strategist owner of meta
[168]
shares uh so your instant reaction have
[170]
you had time to sort of soak it in dau's
[172]
beat mau's miss that revenue guide was
[175]
lighter and then the big deal again that
[176]
first ever decline in revenue growth
[181]
you know okay so
[182]
the whisper number for revenues was
[184]
actually 27 to 28 billion so they come
[188]
in at 28.8 billion um i think that's a
[191]
bright spot um the guidance also lower
[195]
at 26 to 28 billion but the the whisper
[199]
was that they would have to lower it to
[201]
27 to 29 billion so kind of in that
[204]
range a little bit light diu's better
[207]
than expected i want to see what we got
[209]
to hear what they have to say about uh
[211]
reels um and messenger and the growth
[214]
and the monetization and the path going
[216]
forward there but the other thing i want
[219]
to hear is about opex because that's
[221]
where they actually can move the
[223]
they can they have a lever to pull right
[226]
so the opex their guidance is for 87 to
[229]
92 billion i would not be surprised to
[232]
see them lower it to 84 to 86 billion to
[235]
to
[235]
just to soften the blow on the revenue
[238]
line none of this is surprising to me
[240]
guess what you know alphabet was not
[243]
that good yesterday but it was down so
[245]
much into the print that it was able to
[248]
rally microsoft actually i would argue
[250]
was actually better than i expected and
[252]
i understand why that rallied but we
[254]
know that this quarter for meta is the
[257]
toughest comparison for the year we also
[260]
know this is a third quarter in a row of
[262]
idfa challenges and the changes that
[265]
they've seen and they're working on that
[266]
so going forward in the second half of
[268]
this year you're actually going to be
[270]
able to see
[271]
i hope better momentum against easier
[273]
comps we also know that slower gdp is
[276]
hurting ad revenues we get that right
[278]
and we also know about competition but i
[280]
think this company is still able to post
[282]
a three percent dau number not so bad on
[285]
the nba use either and let's just see
[287]
what the engagement numbers are because
[289]
that's what's going to be more important
[291]
to see if people are leaving the
[293]
properties and still going to tick-tock
[295]
and they probably are but let's see what
[297]
their what the momentum is going to be
[299]
on the real side uh going forward
Most Recent Videos:
You can go back to the homepage right here: Homepage