Meta Platforms, the company formerly known as Facebook, is on pace for what would be the worst trading day in its history as a public company.The company's shares were down as much as 26 per cent as of midday Thursday in the US (early Friday morning AEDT), shaving off about US$225 billion ($315.24 million) from its market value, after a rough earnings report released after trading hours on Wednesday.Not only did Meta report a rare and worse-than-expected profit decline during the final three months of last year, it laid out a series of challenges to its core advertising business and revealed for the first time just how much money it's losing on its shift to the metaverse.
Load More
Load More