Meta shares slide more than 20% on earnings miss, weak guidance

Shares of Facebook parent Meta Platforms Inc. plunged more than 20% in extended trading Wednesday on an earnings miss, weak guidance and intensifying competition — dragging down the stocks of other social media giants.

With Meta’s shares in freefall, other social-media stocks were badly bruised. Snap Inc.’s SNAP, -4.72% shares were down 20% in after-hours trading Wednesday, while Twitter Inc. TWTR, -4.22% and Pinterest Inc. PINS, -8.93% were each down more than 10%. Snap is scheduled to announce its results on Thursday.

“We expect growth to be negatively impacted by a few factors… First, we will lap a period in which Apple’s iOS changes were not in effect and we anticipate modestly increasing ad targeting and measurement headwinds from platform and regulatory changes,” Meta said.

This is a crash that is going to happen this month.. media tell to truth advise your listeners massive bankruptcy will take place in the coming weeks

look like crap... time to go outside and enjoy some nature for real... tech is down again ...lol

Stop shorting by hedgefunds

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Facebook shares plunge more than 20% on weak earnings, big forecast missFacebook became Meta late last year and is now reporting results for the first time under the new name, which is a nod to its push into the metaverse. lookner Buy the dip Amazing Sheryl Sandberg & Mark are not resigning - no integrity - are they on some democrat or feminist affirmative action program-immune to firing, like Biden's son - only feminist communist CNBC knows for sure - they screwed us again-bad management Maybe the ‘let it rip’ strategy of taking misinformation ad money isn’t sustainable after all.
Source: CNBC - 🏆 12. / 72 Read more »