Quick TakeOctober 26, 2022 Meta (f.k.a Facebook) reported Q3’22 earnings Shares closed at $130.90 / share and traded down (20.3%) to $104.30 / share in after-hours trading on Meta’s underperformanceReported advertising Q3’22 quarterly revenue of $27.2bn, a (3.3%) and (3.7%) decline QoQ and YoY, respectively Reported Reality Labs Q3’22 quarterly revenue of $0.3bn, a (48.9%) and (36.9%) decline QoQ and YoY, respectively Reported Q3’22 quarterly operating income of $5.7bn, a (45.4%) and (31.9%) decline QoQ and YoY, respectively Reported Q3’22 quarterly net income of $4.4bn, a (52.2%) and (34.3%) decline QoQ and YoY, respectivelyMeta’s quarterly diluted EPS fell to $1.64 / diluted share outstanding from $2.46 in Q2’22 and $3.22 in Q3’21
