Facebook ($FB) will release earnings today after market close. Its stock hit a record high of $224.20/share this year and is now trading around $183/share. The social media giant — which also owns Instagram and WhatsApp — is expected to report $1.72/share on $17.61 billion in revenue.
Coronavirus doesn’t appear to be hurting Facebook’s business. Job postings have been up and down over the past three months, but has yet to fall under 1,920. Openings are currently at 2,400, up 10% from last week.
Facebook COO Sheryl Sandberg told CNBC that the company expects to hire an additional 10,000 people by the end of 2020, mostly in the product and engineering teams. She also said the company would take a pledge of no lay offs.
“We feel fortunate to be able to do that. We also have the responsibility to do that -- to keep our own employees, but hopefully hire more because we need them," Sandberg said.
Facebook’s LinkedIn employee headcount has increased 5% since January.
Quarantine is making Facebook particularly unavoidable for users, as people need tools to connect with each other during the pandemic. How the company continues to respond to the news will determine its future.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Airtable data signals growth as unicorn takes on more investment capital
- Zoom job postings may be slowing - that doesn't mean it's not still growing
- Palantir pitches in to fight the pandemic - but job postings are slowing
