Facebook/Meta got crushed today after missing earnings and the stock is down by 21%

Facebook stock is down by as much as 21% following a quarter miss. Facebook's new name is Meta, the company released an earnings report that was below expectation, and the stock was hit very hard. Meta stock was selling at $323 per share before the earnings report was released but now it's selling at $252.40 per share. A 21 percent decrease, means Facebook stock is down $70 per share today. 

Facebook Revenue: $33.67, Refinitiv estimated $33.4 billion.

Earnings per share: $3.67 vs $3.84 expected, according to a Refinitiv survey of analysts

Daily Active Users (DAUs): 1.93 billion vs 1.95 billion expected by analysts, according to StreetAccount

Monthly Active Users (MAUs): 2.91 billion vs 2.95 billion expected by analysts, according to StreetAccount

Average Revenue per User (ARPU): $11.57 vs $11.38 expected by analysts, according to Street Account.

With Meta’s shares down by a lot, there may be an upside for investors that are willing to buy it at this price.  The company still made $33.67 billion in revenue and that is a lot of money.

“On the impressions side, we expect continued headwinds from both increased competition for people’s time and a shift of engagement within our apps towards video surfaces like Reels, which monetize at lower rates than Feed and Stories,” Facebook said.

Meta said its Family of Apps saw revenue of $32.79 billion with an operating income of $15.89 billion in the fourth quarter. Its Reality Labs segment made $877 million in revenue in the quarter with an operating loss of $3.3 billion.