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Market Recap: Monday, October 25

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Yahoo Finance's Emily McCormick breaks down today's market action, and Facebook's after-hours earnings report.

Video Transcript

EMILY MCCORMICK: Welcome back. I'm Emily McCormick here with a quick check of the markets brought to you by PIMCO. And we're watching shares of Facebook. The company just posted mixed third quarter results a few moments ago, and here's a look at how they did.

Now, on the top line, we saw revenue come in below consensus expectations, those growing 35% over last year to rise to $29.01 billion, but still short of the $29.45 billion that Wall Street was looking for. Now, earnings per share, on the other hand, were a beat-- those coming in at $3.22 a share versus the $3.17 estimate. And then if we take a look here at Facebook's core monthly active users, a slight miss on that front as well-- those growing 6% year-on-year to reach $2.91 billion versus the $2.92 billion expected.

Now, if we take a look here at average family service users per day, that includes other platforms, including Instagram and WhatsApp. That did exceed estimates coming in at $2.81 billion versus the $2.77 billion expected. And then taking a look ahead at current quarter guidance, Facebook saying that it expects revenue to come in at as much as $34 billion, also short of the 34.8 billion Wall Street was looking for.

Now, as we saw with Snap in its own earnings results last week, Facebook also flagged the negative impact from that Apple iOS app-tracking trend. So that is something to watch in the current quarter. And then finally, one notable update here from this evening's earnings report, the company saying that starting in the fourth quarter in its next earnings results, it will start breaking out Facebook Reality Labs, or FRL, as its own reporting segment, since the company has been investing in augmented reality projects as well as services and building out the metaverse. Wall Street does seem to be taking that as a positive here, as we are seeing those shares moving to the upside by about 2.5%, even as we got those mixed third quarter results. We'll be right back.