Meta platforms tumbled over 21% in premarket trading after its earnings dropped more than forecast in Q4.
Revenue was $33.67 billion for the quarter ended Dec. 31, up from $28.07 million a year earlier. Analysts surveyed by Capital IQ expected $33.44 billion.
Daily active users were 1.93 billion on average for December, up 5% year-over-year.
In Q4, ad impressions delivered across the company's family of apps increased by 13%, and the average price per ad increased by 6%.
The company expects Q1 2022 revenue will be in the range of $27 billion to $29 billion, a growth of 3% to 11%. Analysts polled by Capital IQ expected $30.27 billion. Headwinds to impression and price growth will undermine sales in Q1.
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