Meta fell more than 14.5% before the market opened. Second-quarter revenue guidance was lower than expected, raising full-year capital expenditure forecast.

Gelonghui, April 25 | Meta (META.US) U.S. stocks fell more than 14.5% before the market opened, to US$421.7.

Meta\’s first-quarter revenue was US$36.46 billion, higher than the expected US$36.12 billion, a year-on-year increase of 27%, the fifth consecutive quarter of accelerated growth, and the fastest expansion rate in three years since 2021.

However, the company expects second-quarter revenue to be in the range of US$36.5 billion to US$39 billion, with the midpoint lower than market expectations of US$38.24 billion, equivalent to a year-on-year increase of 18%.

In addition, Meta raised its full-year capital expenditures to $35-40 billion from its previous forecast of $30-37 billion, and expects to continue to increase spending next year.

Meta CEO Zuckerberg said that Meta should significantly increase investment in the next few years to build more advanced models and the world\’s largest artificial intelligence service.

These expenses must \”grow meaningfully\” before we can generate significant revenue from these new products.

Like (0)
Previous April 25, 2024 5:04 pm
Next April 25, 2024 5:05 pm

Related posts

  • Age Calculator

    An age calculator is an invaluable online tool that accurately determines a person’s age based on their date of birth and the current date. By taking into account leap years and different calendar systems, this tool delivers precise results in years, months, and days

    free stock signals April 19, 2024
  • Market valuation of six most valued firms rises ₹1.30 lakh crore; SBI, ICICI Bank top gainers

    The combined market valuation of six of the top-10 most valued firms increased ₹1,30,734.57 crore last week, with State Bank of India and ICICI Bank emerging as the biggest gainers in line with an overall positive trend in equities.

    free stock signals April 29, 2024
  • Hongxing Shares’ net profit increased by 651.54% year-on-year last year and plans to distribute 1 yuan in cash for every 10 shares

    On April 25, Hongxing Shares released its annual report. In 2023, the company achieved revenue of 1.597 billion yuan, a year-on-year increase of 20.22%; net profit was 87.1443 million yuan, a year-on-year increase of 681.54%. The company launched a dividend plan of 1 yuan (including tax, the same below) for every 10 shares.

    free stock signals April 25, 2024
  • Pre-market: Nasdaq futures fell 0.9%, Meta fell more than 14.5%

    U.S. stock index futures weakened before the market opened on Thursday, with global stock markets ending a three-day winning streak as disappointing earnings forecasts from Facebook and Instagram owner Meta weighed on technology stocks. As of press time, Dow futures fell 0.5%, S&P 500 futures fell 0.6%, and Nasdaq futures fell 0.9%. Germany\’s DAX index fell 0.4%, France\’s CAC 40 index fell 0.5%, Britain\’s FTSE 100 index rose 1.1%, and Europe\’s Stoxx 50 index fell 0.6%. WTI crude oil rose 0.19% to US$82.97 per barrel. Brent crude oil rose 0.22% to US$88.21 per barrel. U.S. first-quarter GDP data and more financial reports from \”big tech companies\” are scheduled to be released later today, but for now, Meta\’s stock price fell 15% due to thunderous results, causing market sentiment to worsen. Risks are high for tech giants\’ earnings after frenzy around artificial intelligence fueled a record-breaking rally on Wall Street. The market reaction suggests that expectations for a boost to profits from artificial intelligence for companies developing the technology may be exceeded. Robert Alster, chief investment officer at Close Brothers Asset…

    free stock signals April 25, 2024
  • Buzzing stocks.Stocks that will see action today: May 16, 2024

    Honeywell Automation India Limited (HAIL) on Wednesday appointed Atul Pai as its Managing Director. Pai succeeds Ashish Gaikwad, who is taking on a broader responsibility as India Leader for Industrial Automation, one of Honeywell International Inc’s strategic business groups, the company said in a statement. “Atul brings more than two decades of experience in various regional and global roles across Honeywell and its finance division.

    free stock signals May 16, 2024
  • Apple restarts talks with OpenAI to add new artificial intelligence features to new products

    Apple has restarted talks with OpenAI to explore using the startup\’s technology to power some new iPhone features due later this year, according to people familiar with the matter.

    free stock signals April 27, 2024