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Facebook reported its fourth-quarter results on Wednesday. The company’s earnings came out at $3.88 per share versus the forecast of $3.22 per share. Facebook’s revenue has also beaten estimates with $28.07 billion vs $26.44 billion. Other key indicators, such as daily/monthly active users and average revenue per user were also marginally better than expected.
Facebook stock is among the so-called FAANG stocks or the stocks of the US technological giants. On the one hand, the latest numbers look good. On the other hand, the looming changes in Apple’s iOS 14 and a reversal in pandemic trends may hurt Facebook’s advertising business. In addition, although Facebook benefitted from a shift toward online commerce and products during the pandemic, this trend may moderate or reverse.
The market’s reaction to the release was negative. The stock has been failing to reach new highs since August when it got as high as $304.62. Once again, it turned down from the resistance. Although the uptrend may resume after a long weekly consolidative pattern on the W1, the Facebook stock may correct down to 246.00 first. Good thing that by trading Facebook CFD, you can open sell trades as well.
You can also trade Facebook stock with FBS Trader mobile app. Remember that stock trading starts as the US session begins (at 16:30 MT time).
Don't know how to trade stocks? Here are some simple steps.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
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