Meta shares sink 11% on weak revenue guidance
- Meta exceeded Wall Street's first-quarter earnings expectations, but predicted a significant slowdown in growth, leading to a plunge in its stock value.
- Fueled by rising costs in the metaverse segment, Meta raised its full-year expense outlook, impacting the stock's previously strong growth narrative.
- Despite beating sales and earnings forecasts, Meta's stock dropped 10% in trading, potentially reaching its lowest price since February.
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Leaning Left2Leaning Right1Center4Last Updated9 days agoBias Distribution57% Center