The social media giant Facebook will beat the consensus estimates for revenues and earnings, despite ongoing controversy, if you believe the tech analysts.
In the first half of the year, Facebook saw growth of both daily active users, as well as online advertising. This is a trend that many expect to continue when the company publishes their results this evening.
Chief executive Mark Zuckerberg says growth will be driven by the “metaverse” he is building.
The company is continuously working toward improving margins as witnessed in the first half of 2021 where operating margin was recorded at 43 per cent compared to 33 per cent in the same period of the previous year.
Altogether, the company is likely to report an earnings per share of around $13.94 for the 2021 full year.
Their Q3 2021 earnings per share is expected to be $3.47 per according to some analysts, above the consensus estimate of $3.19.
Imran Ahmed, chief executive for the Center for Countering Digital Hate, and a staunch critic of Zuckerberg’s Facebook, said: “Facebook continues to be an indispensable tool for advertisers”, meaning that their growth will continue.