Why Meta Platforms Stock Crashed and Burned Thursday Morning
Shares of Meta Platforms (NASDAQ: META) traded sharply lower Thursday morning, falling as much as 16%. As of 10:52 a.m. ET, the stock was still down 12.3%.
The catalyst that sent the social media titan lower was the company's quarterly financial report, but not for the reasons you might think.
In the first quarter, Meta reported revenue that grew 27% year over year to $36.4 billion. Expenses grew more slowly, increasing just 6%, which helped drive operating margins to 38%, up from 25% in the prior-year quarter. This fueled robust profits, as earnings per share (EPS) surged 114% to $4.71.
Source Fool.com
Meta Platforms Inc. Aktie
478,40 €
-2,20 %
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