Re:Meta Earning Results Q3 2022 [pdf]
by darth_avocado on Wednesday October 26, 2022 @04:39PM
(#33349094)
What most people don't realize is that revenue in Europe is down not because spending is down, but because dollar is stronger. They don't explain this here, but they did in Tesla earnings. Expect multinational companies to have a lower European business this quarter.
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Re:Meta Earning Results Q3 2022 [pdf]
by NovemberWhiskey on Wednesday October 26, 2022 @06:20PM
(#33350382)
>They don't explain this here, but they did in Tesla earnings
It's in the first bullet point on page 2:
Revenue was $27.71 billion, a decrease of 4% year-over-year, and an increase of 2% year-over-year on a constant currency basis. Had foreign exchange rates remained constant with the third quarter of 2021, revenue would have been $1.79 billion higher.
EDIT: who thinks there would still be explanatory wording added here if forex rates had moved the other way and revenues had gone up ... ?