Published 9 days ago

Meta loses $200 billion in value as Zuckerberg focuses earnings call on all the ways company bleeds cash

Meta projected lower second-quarter revenue expectations, leading to a drop in shares by about 10% in extended trade.
Zuckerberg assured investors of potential rewards if they stay invested despite the stock plunge.
Meta plans to increase capital expenditures to $35-40 billion for 2024 to support AI investments for future profitability.

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Reuters

Meta shares sink on higher AI spending, light revenue forecast

10 days ago·United Kingdom

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New York Post

Meta shares drop after warning of weak revenue growth, higher AI expenses

Meta Platforms forecast that second quarter revenue could come in below expectations.

10 days ago·New York, United States

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CNBC

Meta stock plummets after Zuckerberg touts money-losing projects

During Meta’s earnings call, Mark Zuckerberg focused on AI, the metaverse and hardware projects that aren't currently profitable, turning off investors.

10 days ago·United States

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The West Australian

Meta’s $US200b wipe-out as Zuckerberg focuses on cash burn

Meta CEO Mark Zuckerberg unnerved investors on the company’s quarterly earnings call Wednesday by focusing on its long-term investments in AI and the metaverse.

10 days ago

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Quartz

Meta stock plummets 15% because Mark Zuckerberg still spending and losing tons of money on the Metaverse

Meta stock plummeted more than 15% in pre-market trading on Thursday, even as the Facebook parent company reported better-than-anticipated sales in its quarterly earnings the day before. The losses appeared to be driven by the company’s steep Metaverse losses, and CEO Mark Zuckerberg’s commitment to continue that…Read more...

9 days ago·United States

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Breitbart

Mark Zuckerberg's Meta Stock Tumbles After Earnings Call Focuses on Costly AI, Metaverse Investments

Mark Zuckerberg's Meta suffered a significant hit to its stock price in extended trading on Wednesday, despite better-than-expected profit and revenue for the first quarter, as Zuckerberg focused on the company's long-term investments in AI and the metaverse during the earnings call. The stock is now down more than 15.7 percent in Thursday pre-market trading.

9 days ago·United States

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