Meta shares plunge 24% to the lowest price since 2016

CNBC)Shares of Meta plunged 24.5% Thursday as investors and analysts digested the company’s third-quarter earnings miss and a weak fourth-quarter outlook. Shares closed at $97.94, the lowest price since 2016. The parent company of Facebook reported quarterly revenue of $27.7 billion Wednesday, a decline of more than 4% year over year and its second straight quarterly decline. Its profit plummeted 52% to $4.4 billion.

To read this article:

This entry was posted in Syndicated. Bookmark the permalink.

Comments are closed.