The ripple effects from Facebook's (FB) - Get Facebook, Inc. Class A Report disappointing revenue results Wednesday are already being felt as the social media giant became the second of the big tech names to lay an egg this earnings season.
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Facebook itself saw its shares fall more than 20% in late trading after missing analyst revenue expectations. Facebook had risen 32.1% since the company last reported earnings on Apr. 25, prior to Wednesday's results.
Shares dropped 19% on Thursday.
Facebook is one of the so-called FAANG stocks -- Facebook, Amazon (AMZN) - Get Amazon.com, Inc. Report , Apple (AAPL) - Get Apple Inc. (AAPL) Report , Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report -- which have led market gains this year.
Of the other big tech names:
Two of the big five tech names have yet to report.
Amazon.com, Inc. (AMZN) - Get Amazon.com, Inc. Report is expected to report earnings per share of $2.48 on sales of $53.4 billion after the close on Thursday, based on a FactSet survey of 45 analysts. The stock has risen 18.7% since the company last reported earnings on Apr. 26.
Apple Inc. (AAPL) - Get Apple Inc. (AAPL) Report is expected to report earnings per share of $2.16 on sales of $52.3 billion on Aug. 1, based on a FactSet survey of 33 analysts. The stock has risen 13.3% since the company last reported earnings on May. 1.