Summary:
- Meta Platform Inc. stock price drops as investors await earnings report.
- GlaxoSmithKline’s Q1 results should have impressed investors.
Meta (FB) stock price falls as investors await earning reports due this evening.
The Q1 earnings of Meta announcement is due later today, inlight of this announcement investors sentiment is bearish, especially after the poor Q4 announcements. The guidance for the march quarter was poor as Meta revealed that revenue growth had slowed significantly due to the new Apple privacy rules, which limits Metas ability to target advertisements and measuring the effectiveness of ads. These new rules have Meta assuming a decrease in their revenue for the financial year by around $10 billion.
One of Meta’s rival platforms to Instagram and Facebook is Tiktok, Toktok is one of Meta’s biggest competitors which will also lead to decreasing revenues.
The price of Metas stock has been on the decline the past week, and since the market opened this morning the FB stock has lost around 3.2% of its value.
FB Stock Price Chart
GlaxoSmithKline (GSK) delivers favorable earnings results.
GlaxoSmithKline announced their Q1 earnings today, which beat market expectations, the earnings were boosted by COVID-19 antibody treatments, in addition GSK saw a recovery in its shingles vaccine sales.
Despite these favorable earnings figures the price of GSK is still in the red since the market opened this morning.
Sources: Finance.yahoo.com, barrons.com
