Facebook shares jumped in after-hours trading Wednesday after the company announced mixed first-quarter results.
CFO David Wehner said Wednesday that while the company has seen its advertising revenue start to stabilize amid the Covid-19 pandemic, it could be in for another drop and that "the outlook is really uncertain."first-quarter results
. The company noted a drop in advertising revenue in March due to the coronavirus pandemic, but is now seeing signs of stabilization. "After the initial steep decrease in advertising revenue in March, we have seen signs of stability reflected in the first three weeks of April, where advertising revenue has been approximately flat compared to the same period a year ago, down from the 17% year-over-year growth in the first quarter of 2020," Facebook said in its earnings report.
"The April trends reflect weakness across all of our user geographies as most of our major countries have had some sort of shelter-in-place guidelines in effect.""We know economists are calling broadly for a GDP contraction in Q2 that's pretty substantial globally," Wehner told CNBC's "We know that advertising tends to be very sensitive to the macroeconomic climate. We really have a very cautious outlook on how things are going to develop."
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
YouTube Brand Ad Revenue Still Sliding Despite “Signs Of Consumers Returning To More Commercial Behavior,” Per Alphabet CFOTraditional brand marketing on YouTube is “continuing to decline” in April due to COVID-19, according to Ruth Porat, CFO at Alphabet, parent of the digital video behemoth. During a conf…
Consulte Mais informação »
Facebook rises after reporting 'stability' in ad revenue after fall in MarchFacebook has seen an increase in user engagement as a result of the coronavirus, but it has also warned that the pandemic has adversely affected the company's advertising business.
Consulte Mais informação »
Alphabet earnings hit by ‘significant slowdown’ in ad sales, but revenue boosts stockGoogle’s profits were damaged even more than expected as the COVID-19 pandemic caused “a significant slowdown in ad revenues,” parent company Alphabet Inc....
Consulte Mais informação »
YouTube Nets $4 Billion in Ad Revenue Despite Coronavirus Spending SlowdownYouTube had just over $4 billion in advertising revenue for the first quarter of the year despite a slowdown in ad sales after the coronavirus pandemic hit the United States in March
Consulte Mais informação »
Facebook Reaches 2.6B Users But Misses Q1 Profit Target On Pandemic Ad SlowdownFacebook topped Wall Street estimates for revenue in the first quarter with an 18% gain but missed targets for earnings per share. Total revenue came in at $17.7 billion, while earnings of $1.71 pe…
Consulte Mais informação »
GE says first-quarter revenue declined 8%, expects this quarter to be worse because of pandemicGeneral Electric reported steep declines in first-quarter revenue and earnings as the industrial giant took a hit amid the coronavirus pandemic.
Consulte Mais informação »