The results come after a turbulent few months for the California tech giant, as it battles continued fallout from scandals including Cambridge Analytica and the hack of 30 million users’ sensitive data.
The company’s stock dropped 20% on its Q2 2018 earnings in July, when it failed to meet analysts expectations and warned that revenue growth rates were going to drop. Wall Street will now be watching anxiously to see how significant the damage is.
Most analysts remain optimistic on Facebook, despite its recent travails. There is a consensus price target of $203.26, according to Bloomberg — up significantly from Tuesday’s share price of around $143. The stock’s all-time high is around $210.
“We expect Facebook’s revenue growth to remain robust, supported by multiple growth drivers,” Wedbush analysts wrote in a research note on Friday, ahead of Facebook’s Q3 earnings. “The company’s unmatched scale and ease of use when it comes to its advertising platform suggest that Facebook will continue to represent a core part of digital advertiser budgets.”
Business Insider is covering Facebook’s Q3 2018 earnings live. Refresh this page or click here for the latest updates.
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