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Facebook shares rise as investors focus on earnings beat and buyback over revenue miss and outlook

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Facebook CEO Mark Zuckerberg has responded to recently leaked documents & reports about the company: 'My view is that what we are seeing is a coordinated effort to selectively use leaked documents to paint a false picture of our company.'

$29.01 billion vs $29.57 billion expected by analysts, according to Refinitiv.1.93 billion vs. 1.93 billion expected by analysts, according to StreetAccount.2.91 billion vs. 2.93 billion expected by analysts, according to StreetAccount.

Zuckerberg said Facebook will retool its focus on young users rather than optimizing for the larger number of older people. The company announced its plans to break out Facebook Reality Labs into its own reporting segment starting in the fourth quarter. That unit focuses on hardware, augmented reality and virtual reality products. The other revenue segment will come from its family of apps, which include Facebook, Instagram, Messenger, WhatsApp and other services.

 

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Why is it I believe Zuckerberg?

donie TFG made similar arguments throughout 2017 & 2018. “Oh the leaks!” Instead of “we did wrong.”

donie I hate Facebook

donie DiSiNfOrMaTiOn!! And… scene.

donie It's time to break up Facebook and fire Zuckerberg. The company needs new management and new CEO.

What a drop out! Are those documents yours or not?

donie Okay Mark, we trust you. Not. DeleteFacebook

donie Facebook mission statement: We harvest as much user data as possible regardless of the contents being shared. Our algorithms push more sharing of contents to all users. We don’t pull down false content per First Amend. We then sell the data to ad brokers to generate revenues.

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