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Meta shares fall 15% as higher AI spending, low revenue forecasted
short by Debaroti Adhikary / on Thursday, 25 April, 2024
Shares of Facebook and Instagram-parent Meta fell about 15% after it predicted lower revenue and higher spending during the April-June quarter. Its market value dropped by nearly $200 billion to $1 trillion. Meta said it expects revenue to be in the range of $36.5 billion-$39 billion and raised its total expense forecast to $96 billion-$99 billion.
read more at Reuters