Facebook, Inc. (NASDAQ: FB) saw its stock sink like a stone Thursday, a day after reporting financial results for the quarter and full year ended December 31, 2019.
The social media giant, based out of Menlo Park, Calif., reported third-quarter revenues totaling $21 billion, a 25% improvement over the prior-year’s $16.9 billion. Total costs and expenses, however, registered at $12.2 billion, or 34% higher than the $9.094 billion in the prior-year.
Investors may also have been put off by the fairly weak rise in earnings; the $7.3 billion figure only 7% better than the prior-year’s $6.9 billion. Diluted earnings per share came in for the quarter at $2.56, or 8% above the $2.38 number in the prior-year.
Daily active users were 1.66 billion on average for December 2019, an increase of 9% year-over-year. Facebook monthly active users (MAUs) – MAUs were 2.50 billion as of December 31, 2019, an increase of 8% year-over-year.
What the company calls "headcount" was 44,942 as of December 31, 2019, an increase of 26% year-over-year.
Cash and cash equivalents and marketable securities were $54.86 billion as of December 31, 2019.
"We had a good quarter and a strong end to the year as our community and business continue to grow," said CEO Mark Zuckerberg, "We remain focused on building services that help people stay connected to those they care about.
Shares dropped $14.58, or 6.5%, to $208.65
