AP Photo/Andrew Harnik
Facebook announces its Q1 2019 earnings after markets close on Wednesday.
The California social networking giant has been beset by scandals for the past two years, from Cambridge Analytica’s misappropriation of users’ data to the platform’s role in spreading hate speech that fueled genocide in Myanmar.
But that hasn’t halted its steady growth, and as of Wednesday its stock was hovering around $183 a share, below its all-time highs of $218 in July 2018, but well above the $123 mark it was languishing at as recently as December.
A key area of focus for investors is the continued growth of Instagram, even as the core Facebook app’s business slows, and as the company adapts its advertising model to the (relatively) new Stories format across the company’s various apps.
Here are the key numbers Wall Street is expecting (consensus estimates via Bloomberg):
- Revenue: $14.97 billion expected, up 25% year-over-year
- Earnings per share (GAAP): $1.62 expected
- Operating profit: $5.4 billion expected
Business Insider is covering Facebook’s earnings live. Refresh this page or click here for updates.
Do you work at Facebook? Got a tip? Contact this reporter via encrypted messaging app Signal at +1 (650) 636-6268 using a non-work phone, email at rprice@businessinsider.com, Telegram or WeChat at robaeprice, or Twitter DM at @robaeprice. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.
NOW WATCH: Watch Tim Cook unveil Apple’s news-subscription service: Apple News+
See Also:
- How to change the language on your Facebook account and news feed
- An EU government data watchdog is ‘engaging’ with Facebook after it harvested 1.5 million users’ email contacts without consent
- Facebook banned a bunch of fascist and far-right groups including the BNP, EDL, and Britain First
Source: Business Insider – rprice@businessinsider.com (Rob Price)