Facebook parent Meta Platforms Inc has forecast a weak holiday quarter and significantly more losses from Metaverse investments next year, sending shares down 14 percent.The forecast on Wednesday knocked about $40bn off its stock market value in extended trade. On top of the disappointing outlook, Meta is contending with slowing global economic growth, competition from TikTok, concerns about significant spending on the Metaverse and the ever-present threat of regulation.The Facebook parent company beat estimates for quarterly revenue, which fell 4 percent to $27.7bn in the third quarter that ended September 30, from $29bn last year.
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