- Facebook (NASDAQ:FB) knee-jerked sharply lower post-earnings last night after disclosing a slide in user time on the site.
- That turned around during the conference call. Total hours is a losing game, according to COO Sheryl Sandberg. Of the focus on curation, rather than screen time: "The impact on monetization is clearly not negative."
- Conference call transcript
- The sell-side is fan, particularly BAML, which hikes its price target to a Street-high $265 (41% upside). "We characterize Q4 as a solid beat, and while content changes will raise some doubts on Facebook platform content quality and usage, results and commentary suggest Facebook’s financial trajectory is on an even stronger path."
- RBC's Mark Mahaney lifts his PT to $250, with upside of $300. "We still think FB is the best growth story in tech."
- h/t Notable Calls
- Shares +0.9% premarket
- Previously: Facebook -4.9% after earnings beat that shows slower growth (updated) (Jan. 31)
- Previously: Facebook beats by $0.26, beats on revenue (Jan. 31)
- Now read: Facebook 2017 Q4 - Results - Earnings Call Slides
Original article