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After the market closed on April 24, Meta released its quarterly financial results. Despite beating earnings expectations, the stock has plummeted in pre-market trading, as the firm expects costs to impact future earnings.
In general, Meta has reported that it expects revenues to decrease and costs to continue to grow. Moreover, the firm's representatives commented during the earnings review that the firm has to increase its spending on artificial intelligence development. Some investors have switched to the opinion that the costs of AI are too high for the potential earnings.
Thu, 25 Apr 2024 12:50:38 GMT
Source: Dukascopy Bank SA
After the market closed on April 24, Meta released its quarterly financial results. Despite beating earnings expectations, the stock has plummeted in pre-market trading, as the firm expects costs to impact future earnings.
In general, Meta has reported that it expects revenues to decrease and costs to continue to grow. Moreover, the firm's representatives commented during the earnings review that the firm has to increase its spending on artificial intelligence development. Some investors have switched to the opinion that the costs of AI are too high for the potential earnings.