Facebook (NASDAQ: FB) reported fourth-quarter 2020 financial results after the regular market hours on Wednesday. The social media giant reported fourth-quarter revenue of $28.07 billion, up 33% year-over-year and above the Wall Street projection. Net income of $3.88 per share was also higher than what analysts had anticipated.
FB shares fell 1.5% immediately following the announcement. The stock has gained 25% in the trailing twelve months.
In a statement, Facebook said it expects 2021 capital expenditures to be in the range of $21-23 billion, driven by data centers, servers, network infrastructure, and office facilities.
“We expect 2021 total expenses to be in the range of $68-73 billion, unchanged from our prior outlook. This is driven by investments in technical and product talent as well as continued growth in infrastructure costs,” CFO David Wehner added.
The positive effects of widespread digitalization and e-commerce growth on China’s financial services industry became more pronounced during the pandemic as the movement restrictions drove more retail customers to online
Shares of Activision Blizzard Inc. (NASDAQ: ATVI) were up 1.6% on Thursday. The stock has dropped 14% since the start of the year. The company has been in the news
The emergence of technology-driven financial services is making people think beyond conventional banks when it comes to availing loans and transferring funds. In a move aimed at taking its business