Meta (META) stock falls after Q3 earnings miss targets
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowMeta's (META) shares dropped in extended trading following a disappointing revenue forecast and a significant decline in free cash flow. The company's earnings per share were $6.18, below expectations of $7.22, and revenue totaled $60.80 billion, slightly exceeding estimates of $60.17 billion. Meta anticipates revenue of $61 billion to $64 billion for the upcoming quarter, which is below analyst expectations of $63.15 billion. Free cash flow fell from $8.55 billion a year prior to $784 million this quarter, which may concern investors about the company's financial health amid increased investments in AI.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Meta Platforms Inc. (META)
Meta Platforms owns Facebook, Instagram, WhatsApp, and Messenger, earning almost all of its revenue from digital advertising while investing heavily in AI and the metaverse.
The Communication Services sector covers media, entertainment, telecom and interactive companies that connect and inform people.
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