News Formal

Facebook miss sends social media stocks into after-hours tailspin

  • 📰 Reuters
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Facebook owner Meta Platforms Inc shares plunged 22% late on Wednesday after the social media company missed on Wall Street earnings estimates and posted a weaker-than-expected forecast.

A 'Wall St' sign is seen above two 'One Way' signs in New York August 24, 2015. REUTERS/Lucas Jackson/File Photoshares plunged 22% late on Wednesday after the social media company missed on Wall Street earnings estimates and posted a weaker-than-expected forecast.

Several other social media companies also fell hard after the bell, including Twitter , Pinterest and Spotify , which also released disappointing results late Wednesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Facebook parent Meta shares plummet 23% on ‘black eye’ earnings reportFacebook and Instagram parent company Meta saw its shares plummet to their lowest point in over a year on Wednesday after the company lowered its revenue forecast for the current quarter. Cheap real estate in Hawaii about to hit the market
Source: nypost - 🏆 91. / 67 Read more »