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Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) shares continued to hover around 11% lower on Thursday after its first-quarter results, but some analysts believe there is some good to be found in the Facebook owner's update. Analysts at Bank of America believe Meta's first quarter highlighted several “revenue growth benefits” which included higher legal expense accruals, benefits from a TikTok ban and plans to strengthen its advertising division.
Bill Baruch, Founder & President Blue Line Capital, joins CNBC's “Halftime Report” with his Meta strategy following a tough earnings call that's pushing the stock lower today.
CNBC's Deirdre Bosa reports on Meta's post-earnings stock performance.
As Meta Platform Inc.'s stock suffers a bruising 13% rout on Thursday, investors are flocking to its bonds, which are seeing the most net buying of any of the so-called Magnificent Seven companies.
Shares of Meta (META) fell sharply Thursday, after the tech giant released its first quarter results and provided a softer outlook for the second quarter due to increased spending on artificial intelligence (AI) and operational investments. RBC Capital Markets Internet Analyst Brad Erickson joined the Morning Brief to discuss Meta's spending plan.
One of the factors weighing heavily on Meta shares META, -12.85% Thursday is the company's boost to its capital-spending outlook, which now calls for the Facebook parent company to shell out $35 billion to $40 billion this year. Its prior forecast was for $30 billion to $37 billion.
Meta reported revenue and profits that easily surpassed expectations. However, it was the company's spending plans that spooked investors.
Mandeep Singh, Bloomberg Intelligence Senior Tech Analyst discusses Meta's disappointing earnings report and the company's forecast for increased spending this year. He speaks with Tom Keene and Paul Sweeney on Bloomberg Radio.
Meta shares tumbled 15% during premarket trading on Thursday after the company issued weak revenue guidance that overshadowed its first-quarter earnings beat.
Meta Platforms' weak revenue guidance hit the stock and the broader tech sector badly. But strong long-term future of the tech sector, likely Fed rate cuts from late-2024 are tailwinds for the space.