Facebook reports the earnings on Monday. Instant winnings were not a good sign.

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Kirill Kudrayavstev / AFP via Getty Images


After


Break

said he had taken an income shot from


Apples

recent privacy changes for mobile advertising, investors wondered what this might mean for


Facebook
.

They won’t have to wait long for a response.

Facebook (ticker: FB) is expected to release its third quarter results after the market closed on Monday, but news from Snap (SNAP) caused Facebook’s shares to fall 5.1% on Friday after the results of the parent company of Snapchat fell short of expectations. One of the main concerns for investors was the impact of Apple’s changes to targeted advertising on mobile devices: Apple Now asks users if they want to sign up for the practice, and data from research firm Flurry suggests that only 15% of U.S. consumers opt for tracking when given the choice. Monday’s Facebook report will show how widespread the impact is to businesses focused on mobile advertising.

Facebook’s third-quarter Wall Street consensus estimate projects sales of $ 29.57 billion and earnings of $ 3.19 per share, according to FactSet. Analysts predict that monthly active users will reach 2.92 billion in the quarter and predict that Facebook has 1.93 billion daily active users.

“We expect Q3 results / outlook to likely be a little better than Snap’s, with the company already recognizing the targeting of headwinds and more proactively developing tools to help with measurement and attribution,” Baird analyst Colin Sebastian wrote on Monday.

There’s a lot more news swirling around Facebook, with the company considering a name change, The Verge reports. (Barron was unable to corroborate the report from The Verge, which cites an anonymous source.) Earlier this month, the damaging testimony of whistleblower Frances Haugen on internal data and documents she submitted to the Lawmakers, regulators, and journalists seemed to be mobilizing more support in Washington, DC for restraining in society. It is unclear what action, if any, lawmakers will take.

In a statement posted on Twitter, Facebook’s director of political communications Andy Stone said the company disagreed with most of Haugen’s characterizations on the issues she testified to, but called lawmakers to establish a standard set of rules for the Internet.

Investors might wonder if a potential name change for Facebook is linked to a series of controversies in recent years over user data and the potential influence of its app on political polarization. On the flip side, the company is much more than its eponymous social network – it also owns Instagram, WhatsApp, and virtual reality headset maker Oculus.

Beyond the company’s earnings call on Monday, investors will be able to hear Facebook CEO Mark Zuckerberg on October 28 when he is scheduled to speak at the company’s Facebook Connect virtual event. Zuckerberg is set to discuss Facebook’s interest in the Metaverse, a theorized next evolution of the internet, in which users socialize, buy, and consume entertainment in virtual worlds that are always online.

The Metaverse has been on Facebook’s radar for some time: The company bought Oculus in 2014, and on the company’s July conference call, Zuckerberg said building the Metaverse was the long-term aspiration of the company. But Facebook isn’t the only company trying to build the metaverse, with newbies in the video game industry like Epic Games’ Fortnite,


Roblox

(RBLX), and


that of Microsoft

(MSFT) Minecraft innovates on such online experiences.

Write to Connor Smith at [email protected]


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