Facebook, Inc. (NASDAQ: FB) Q3 2020 earnings call dated Oct. 29, 2020
Facebook (NASDAQ: FB) reported third-quarter 2020 financial results after the closing bell on Thursday. The social media giant reported a 22% spike in Q3 revenue to $21.47 billion, which was well above the Wall Street consensus. Net earnings of $2.71 per share also surpassed the street consensus by a wide margin. FB shares gained 2% immediately following the announcement. The stock has gained 34% since the beginning of this year.
“We expect our fourth quarter 2020 year-over-year ad revenue growth rate to be higher than our reported third quarter 2020 rate, driven by continued strong advertiser demand during the holiday season. Additionally, Oculus Quest 2 orders have been strong which should benefit Other Revenue,” the company said in a statement.
Deborah Crawford — Vice President, Investor Relations
Mark Zuckerberg — Founder, Chairman and Chief Executive Officer
Sheryl Sandberg — Chief Operating Officer
Dave Wehner — Chief Financial Officer
Brian Nowak — Morgan Stanley — Analyst
Eric Sheridan — UBS Financial Services Inc. — Analyst
Justin Post — Bank of America Merrill Lynch — Analyst
Brent Thill — Jefferies LLC — Analyst
Heather Bellini — Goldman Sachs Group Inc. — Analyst
Douglas Anmuth — JPMorgan Chase & Co. — Analyst
Michael Nathanson — MoffettNathanson — Analyst
Mark Mahaney — RBC Capital Markets — Analyst
Youssef Squali — Truist Securities — Analyst
