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Meta Platforms stock slid after the social media giant reported second-quarter earnings below expectations. The Facebook parent's sales forecast was below estimates as well, while its AI spending forecast was upped slightly. The Menlo Park, Calif.-based Meta earned $6.18 per share from sales of $60.8 billion for the June quarter, according to a company press release.
Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) missed second-quarter profit estimates on Wednesday, weighed down by a jump in costs including legal charges, even as revenue grew faster than expected. The social media giant reported earnings per share of $6.18, down 13% year-over-year...
Meta (META) reported second quarter results on Wednesday after the closing bell. Earnings per share (EPS) came in at $6.18 (compared to analyst estimates of $7.14), and revenue came in at $60.80 billion (compared to analyst estimates of $60.24 billion). Yahoo Finance Senior Business Reporter Ines Ferré takes a closer look at the breaking numbers.
By Purvi Agarwal, Tharuniyaa Lakshmi and Avinash P July 29 (Reuters) - European shares edged lower on Wednesday, as diverging results from French luxury groups weighed on the broader sector, while
The latest oil spike was sending the Dow tumbling, but the Federal Reserve’s interest-rate decision and a gauntlet of earnings loom. The Dow Jones Industrial Average fell 700 points, or 1.3%. The S&P 500 was down 0.
Investors are laser focused on capex heading to Meta' earnings report.
(Bloomberg) -- South Korea’s stock selloff deepened as SK Hynix Inc.’s earnings disappointed, worsening the already‑jittery sentiment around artificial intelligenceMost Read from BloombergNvidia’s $750 Billion in Deals Reignite Circular AI FearsChip Rout Deepens on Circular Funding, China Competition FearsApple Set to Make Big Smart Home Push With Siri AI at CenterCitadel Securities Sees Warsh Delivering Surprise Fed HikeUEFA Considering Boycott of FIFA Tournaments in Brewing FeudThe benchmark K
Microsoft and Meta both crushed their last quarters, yet Wall Street's real verdict on July 29 has nothing to do with revenue beats. The question traders are actually pricing is which AI capex monster blinks first.
In the midst of an expensive AI transformation, the company is grappling with litigation that could cost it billions and force painful changes.
Chip stocks pulled Nasdaq lower to start the week, as falling oil prices failed to give markets a broad reprieve. Nvidia shares are down about 5%, dragging its market value below that of Apple’s in intraday trading. Investors will watch for a fresh batch of U.S. tech earnings this week, including reports from Microsoft and Meta Platforms on Wednesday.
Markets face the week's most consequential moment Wednesday at 2:00pm when the Federal Reserve announces its rate decision and Fed Chair Kevin Warsh holds his first post-decision press conference, setting policy direction.
Uber just cut a chunk of its customer service workforce in the name of AI efficiency, and it is far from alone. The real question is whether these scattered layoffs signal the early edge of a wave that could reshape employment across entire industries.
(Bloomberg) -- A judge dismissed a lawsuit alleging that Meta Platforms Inc.’s WhatsApp is able to access users’ encrypted messages and has made false claims about the privacy and security of its chat service.Most Read from BloombergRetina Chip Designed to Restore Sight to Go on Sale in EuropeHegseth Turns to UNC, Virginia Tech After Dropping Ivy LeagueApple Plans Overhaul of MacBooks, iMac in Push to Meet AI DemandTrump Rebuilds Tariffs With New Levies on 60 EconomiesUS to Begin Work on New Car
Meta Platforms is launching a dedicated app for sellers on Facebook Marketplace. Meta stock was a fraction lower early Friday while the news appeared to weigh on eBay shares. The new app will be called Seller, according to an announcement from Meta on Friday morning.
Shares of eBay (NASDAQ:EBAY) fell 3.7% Friday morning as investors reacted to Meta’s launch of a dedicated Seller app for Facebook Marketplace. While Meta’s product rollout was public, the stock decline underscores growing concern on Wall Street that Meta is making a direct play for eBay’s core seller base. Historically viewed as an informal, local yard-sale platform, Facebook Marketplace’s standalone "Seller" app introduces tools specifically engineered to siphon professional, high-margin power
A Senate China probe, AI spending fears, and fresh layoffs are hitting Amazon stock just one week before a quarter that Wall Street expects to be strong. Something does not add up, and earnings may force a reckoning either way.
R.K.C. had already settled with YouTube, TikTok, and Snap, leaving Meta as the sole defendant ahead of jury selection
A closely watched social media addiction lawsuit that had been set to go to trial next week has been dropped after the plaintiff voluntarily dismissed his claims against Meta, leaving none of the major tech companies facing trial in the case.
A Florida teen suing social-media platforms over claims their design led to mental health issues dropped his lawsuit against Meta Platforms ahead of a trial slated to begin next week in Los Angeles.
A Florida teen dropped his lawsuit on Wednesday against Meta Platforms, canceling a Los Angeles trial over claims the social media company's apps caused his depression and anxiety. The trial, which had been slated to begin on Monday, was expected to be the second trial in thousands of lawsuits that have been consolidated in California state court over claims social media companies designed their platforms to be addictive to children, spurring a youth mental health crisis. The lawsuit, brought by a 15-year-old boy known as R.K.C. who started using social media when he was 8, originally named four defendants: Google's YouTube, Meta's Instagram, Snap Inc's Snapchat and ByteDance's TikTok, but YouTube and TikTok settled in June.
By Daniel Wiessner July 22 (Reuters) - A novel lawsuit claiming that Meta Platforms relied on discriminatory AI tools to select employees for layoffs highlights the problems workers face in suing
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