Disappointing earnings at Facebook owner Meta sends stock tumbling 25%, rattling markets | CBC News

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Stocks tumble after Facebook parent company surprises with disappointing earnings report, knocking billions off the company's valuation. Dow down 218 points, TSX drops 268. Previous story:

Newly renamed Meta is investing heavily in its futuristic "metaverse" project, but for now, relies on advertising revenue for nearly all its income.

So when it posted sharply higher costs but gave a weak revenue forecast late Wednesday, investors got spooked — and knocked almost $200 billion off the valuation of the company formerly known as Facebook.Posted: Feb 03, 2022 9:57 AM ET | Last Updated: 8 hours ago

 

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Too much negative CRAP on Facebook. No matter what the topic or the conversation someone will attack someone else. It is not enjoyable anymore. Life is better without Social Media.

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