Meta Stock Plummets 10% Despite Strong Earnings Performance
Meta, the social media conglomerate previously known as Facebook, delivered an impressive performance in its first-quarter earnings report, exceeding Wall Street's expectations. Despite challenges, the company reported robust sales of $36.46 billion, representing a notable 27% increase compared to the same period last year.
Meta's earnings per share stood at $4.71, surpassing forecasts, while its net income of $12.4 billion further underscored its financial strength.