Facebook announces Q3 2018 earnings

Facebook
CEO Mark Zuckerberg
AP Photo/Andrew
Harnik

Facebook will
announce its Q3
earnings results after markets close on Tuesday.

The results come after a turbulent few months for the California
tech giant, as it battles continued fallout from scandals
including Cambridge Analytica
and the hack of 30 million users’ sensitive data.

The company’s stock dropped
20% on its Q2 2018 earnings in July, when it failed to meet
analysts expectations and warned that revenue growth rates were
going to drop. Wall Street will now be watching anxiously to see
how significant the damage is.

Here are the key numbers Wall Street is expecting, via
Bloomberg:

• Adjusted EPS (earnings per share): $1.848
• Revenue: $13.802 billion, up roughly 27%
  year-over-year

Most analysts remain optimistic on Facebook, despite its recent
travails. There is a consensus price target of $203.26, according
to Bloomberg — up significantly from Tuesday’s share price of
around $143. The stock’s all-time high is around $210.

“We expect Facebook’s revenue growth to remain robust, supported
by multiple growth drivers,” Wedbush analysts wrote in a research
note on Friday, ahead of Facebook’s Q3 earnings. “The company’s
unmatched scale and ease of use when it comes to its advertising
platform suggest that Facebook will continue to represent a core
part of digital advertiser budgets.”

Business Insider is covering Facebook’s Q3 2018 earnings live.
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