At the beginning of the session this Thursday, Meta shares fell up to 6.7% to $279.40, their lowest price in two months.
Meta is recovering from a tough 2022, driven by the rise of new artificial intelligence technology, recovery of digital advertising and an aggressive austerity campaign that has led it to lay off about 21,000 employees since last fall.
The company’s shares have more than doubled in value this year, up around 140%.
In the quarter ended in September, the company’s revenue increased 23%, to $34.15 billion, above analysts’ expectations of $33.56 billion, according to LSEG data.
The social media giant said it expected total expenses of between $94 billion and $99 billion by 2024, above estimates, according to LSEG data. A forecast that the market did not like.
With information from Reuters.