It comes as no surprise that the FB stock got somewhat tripped up along with other tech giants with the coronavirus vaccine brought out by Pfizer. But, the FB stock since then has regained its footing back and is on a roll. Neither the pandemic nor the boycott from other firms seems to be affecting the progress of the FB stock. Solid earnings in the third-quarter seem to highlight the point that the stocks of Facebook would easily overcome a slowdown post-Covid. Nevertheless, antitrust threats are still out there- so is it a good period for one to buy the FB stock?
FB Stock Earnings
The stocks of Facebook managed to surpass their earnings in the third quarter with an adjusted profit rate of $2.40 per share. The earning estimates were up 13% last year, with the exclusion of a tax benefit of about 31%. The revenue of FB stock did grow around 22% from $21.5 billion- as it went above the estimates of $19.8 billion, whilst doubling the growth rate at 11%.
The FB stock was seen to be trading low according to reports from the 29th of October. Investors have shown their focus towards the decline in the number of users in both the USA and Canada from 198 million to 196 million. Previously, the tech company had already spoken about a spike that would result in social media usage as pandemic started rising. But soon, life would return back to normalcy, and so will the usage. In fact, the trend of flat daily users would still go into Q4.
Surprisingly, despite that headwind, the revenue for the FB stock actually went through the roof in the third quarter.