Meta slumps premarket on weak outlook

 Meta Platforms shares tumbled over 10% in pre-market trading on Thursday after the company's second-quarter earnings results failed to impress investors and forecast third-quarter revenue below Wall Street's consensus.

Yesterday, the tech giant reported a 13% decline in diluted EPS while raising the lower end of its full-year spending projection as higher legal and restructuring costs outweighed robust advertising-led revenue growth. With Meta estimating third-quarter revenue at a midpoint of $62.5 billion, below analysts' expectations of roughly $63.15 billion, the forward outlook increased the pressure to sell.

https://breakingthenews.net/Article/Meta-slumps-10-premarket-on-weak-outlook/66814434