Meta, Ford, ServiceNow and more [Video]

Meta Platforms (META): A lack of earnings and soft fourth-quarter earnings guidance pushed shares lower in extended trading. Revenue for the quarter was $27.7 billion, better than expectations of $27.4 billion. Reality Labs’ operating loss came in at $3.67 billion, beating Wall Street estimates of $3.09 billion. Facebook Daily Active Users reached 1.98 billion in the third quarter while Monthly Active Users (MAUs) were 2.96 billion.

“Everybody wants Mark Zuckerberg to hit the air brakes on spending,” Jefferies Analyst Brent Thill told Yahoo Finance. “The fact that they didn’t have a flat head count is good, but I think everyone is calling for more drastic measures… to figure out what’s going on in this macro storm.”

Ford (F): The automaker’s shares fell after the company’s profit missed expectations. Revenue for the third quarter was $39.4 billion, while adjusted earnings were 30 cents per share. Ford also said it will take a $2.7 billion non-cash, pretax impairment on its investment in Argo AI.

Service Today (NOW): The stock jumped 11% after profit beat expectations and subscription revenues grew 22$ from a year ago. The number of customers paying more than $10 million in annual contract value increased 60% year-over-year. ServiceNow also announced today that CEO Bill McDermott will also serve as Chairman of ServiceNow’s Board of Directors. Founder Fred Luddy, who served as Chairman, will remain a member of the Board.

Align Technology (ALGN): Shares fell after hours after the Invisalign maker missed the top and bottom lines for the third quarter. Adjusted earnings were $1.36 per share while revenue came in at $890.3 million. CEO and President Joe Hogan wrote in the earnings release that the third quarter results “reflect continued macroeconomic uncertainty and weaker consumer confidence, as well as a significant impact from unfavorable which are foreign exchange rates in all currencies that affect our operations.”

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