Meta Shares Fall 8% on Earnings Miss, Continue Decline Below $575
Meta Platforms stock dropped more than 8% to $611 following a disappointing earnings report that included lower-than-expected capital expenditures and a quarter-over-quarter user decline tied to internet disruptions in Iran. Shares have since continued to slide, falling below $575.
Meta Platforms stock fell more than 8% to $611 immediately after the company reported earnings results that disappointed investors [1]. The initial decline has extended into a broader selloff, with shares recently trading below $575 [1].
The earnings miss followed a quarter in which Meta reported lower-than-expected capital expenditures and a quarter-over-quarter drop in users, which the company attributed to internet disruptions in Iran [2]. Meta shares fell about 7% in extended trading after the results were released [2].
Continue reading
3 more paragraphs for subscribers.
Free readers get a daily preview and the weekly long-form. Premium unlocks every brief in full, AM & PM editions, alerts, and the archive.