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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

(FB)
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Facebook : says coronavirus hits advertising sales

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03/24/2020 | 04:27pm EDT
FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration

Facebook Inc said on Tuesday the coronavirus outbreak was undercutting sales of the advertising that accounts for nearly all of its revenue, even as more users spend time on the social network during virus-related lockdowns.

"We don't monetize many of the services where we're seeing increased engagement, and we've seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of COVID-19," the company said in a statement.

Facebook shares fell about 1% after hours following an 8.7% rise in regular trade.

The company said messaging across its platforms had increased more than 50% over the last month in many of the worst affected countries. In Italy specifically, users have been spending 70% more time in its apps.

Group calling with three or more participants increased by over 1,000% in Italy in the last month.

Facebook declined a request for comment on precisely which of its markets were experiencing adverse business impact or the magnitude of that impact.

The company's statement echoes similar industry guidance the day before from Twitter Inc, which reported a boost in active users but pulled its first-quarter revenue outlook and forecast an operating loss due to the outbreak.

Many advertisers have pulled marketing budgets to rein in costs because of virus-related uncertainty. Some are also apparently hesitant to advertise alongside coronavirus discussions for fear of associating their brands with the sensitive topic.

(Reporting by Katie Paul in San Francisco and Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila, David Gregorio and Tom Brown)

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Financials (USD)
Sales 2020 80 769 M
EBIT 2020 28 523 M
Net income 2020 23 552 M
Finance 2020 66 042 M
Yield 2020 -
P/E ratio 2020 20,9x
P/E ratio 2021 16,8x
EV / Sales2020 5,14x
EV / Sales2021 4,05x
Capitalization 481 B
Chart FACEBOOK
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Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 51
Average target price 224,69  $
Last Close Price 168,83  $
Spread / Highest target 77,7%
Spread / Average Target 33,1%
Spread / Lowest Target -28,9%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
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TWITTER-20.09%19 998
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SINA CORPORATION-16.83%2 310
NEW WORK SE-32.81%1 201