Meta Platforms Inc (NASDAQ:FB) is expected to announce a decline in revenues and a bloated expenses bill in the social media giant’s third-quarter results due on Wednesday October 26.
The company’s revenue guidance is between $26bn and $28.5bn, a roughly 1% drop against second-quarter actuals.
But expenses will be the real focal point. Meta expects a full-year tally of up to US$88bn, and that’s taking into account recent workforce reductions.
These eye-watering numbers are largely being driven by the company’s metaverse ambitions.
On a positive note, Meta is expected to post a strong uptick in user numbers across its various platforms, but that comes as little relief given the consensus earnings per share estimate of US$1.82 is -43.5% down year on year.