Shares of Meta Platforms Inc. plummeted over 9% in after-hours trading on Wednesday after the company's latest earnings report showed that its earnings per share sharply missed analysts' estimates.
Namely, the tech giant's third-quarter diluted EPS sank by 83% to $1.05, while analysts' anticipated it to be at around $6.72. Net income also registered a significant annual decline and stood at $2.7 billion in the three months ending September 30. However, its revenue in the reported period topped market expectations, landing at $51.2 billion.
Meta's stock tumbled 9.14% at 4:33 pm ET to go for $683 apiece.
https://breakingthenews.net/Article/Meta-plunges-9-as-EPS-misses-estimates/65077678
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