San Francisco, Oct 26 | Amid intense scrutiny from governments the world over, especially in theAUS, Facebook has reported a bumper third quarter (Q3) revenue at $29 billion — up 35 per cent (on-year) — and $28.3 billion came from ad revenue.
The social network reported $9.1 billion in net income, up 17 per cent from the same quarter last year.
Facebook’s shares were up 1.9 after its third-quarter earnings.
Approximately 2.8 billion people are using at least one of its apps on a daily basis, and 3.6 billion people used at least one on a monthly basis in September, the company said late on Monday while announcing its Q3 (July-September period) results.
“We made good progress this quarter and our community continues to grow. I’m excited about our roadmap, especially around creators, commerce, and helping to build the metaverse,” said CEO Mark Zuckerberg.
Facebook daily active users reached 1.93 billion, up 6 per cent or 110 million compared to last year while months active users grew by 170 million or 6 per cent compared to last year.
Facebook Chief Financial Officer David Wehner said during the earnings call that the advertising spend was negatively impacted by performance in measurement headwinds related to Apple’s changes.
“Second, we are seeing some macro headwinds as growth in online commerce has moderated from the elevated levels experienced earlier in the pandemic, and businesses faced supply chain disruptions,” Wehner added.
Facebook currently employs 68,177 people — an increase of 20 per cent year-over-year.
The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.
While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.
Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.
Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.
On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.
Source: Choice India