Zuckerberg doesn’t have any good concepts to steal and is cancelling himself.
– Meta reported a second straight quarterly income decline and is forecasting one other drop within the fourth quarter.
– The corporate’s Actuality Labs division, which homes its VR headsets, misplaced over $9 billion within the first three quarters.
– The inventory plunged in prolonged buying and selling after already dropping two-thirds of its worth to date this 12 months,
Meta shares plummet 12% on weak fourth-quarter forecast and earnings miss
www.cnbc.com/2022/10/26/facebook-parent-meta-earnings-q3-2022.html
Heading into at present’s incomes from Fb, which nonetheless has the bizarro ticker META (Okay, Zuck, we obtained the joke, time to vary the title and the ticker), the option-implied transfer was for a staggering 12% swing within the inventory worth as no one had any concept what to anticipate: sure, the current outcomes from SNAP and GOOGL had been ugly, however sentiment was so overwhelmed down that it was unlikely Fb may actually shock to the draw back.
Fb Craters 16% To six Yr Low On Dismal Earnings, Warns Of “Income Challenges”
www.zerohedge.com/markets/facebook-craters-16-6-year-low-dismal-earnings-warns-revenue-challenges
AC
