Zuckerberg doesn’t have any good ideas to steal and is cancelling himself.
– Meta reported a second straight quarterly revenue decline and is forecasting another drop in the fourth quarter.
– The company’s Reality Labs division, which houses its VR headsets, lost over $9 billion in the first three quarters.
– The stock plunged in extended trading after already losing two-thirds of its value so far this year,
Meta shares plummet 12% on weak fourth-quarter forecast and earnings miss
www.cnbc.com/2022/10/26/facebook-parent-meta-earnings-q3-2022.html
Heading into today’s earning from Facebook, which still has the bizarro ticker META (Ok, Zuck, we got the joke, time to change the name and the ticker), the option-implied move was for a staggering 12% swing in the stock price as nobody had any idea what to expect: yes, the recent results from SNAP and GOOGL were ugly, but sentiment was so beaten down that it was unlikely Facebook could really surprise to the downside.
Facebook Craters 16% To 6 Year Low On Dismal Earnings, Warns Of “Revenue Challenges”
www.zerohedge.com/markets/facebook-craters-16-6-year-low-dismal-earnings-warns-revenue-challenges
AC