Meta Shares Slide After Warning on Economic Uncertainty
- Company still spending heavily on virtual reality, AI
- Meta recovered from advertisers’ budget cuts in last year
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Meta Platforms Inc. shares slid the most in almost 11 months after executive comments warning of softer advertising spending put a damper on an otherwise upbeat earnings report.
“We are very subject to volatility in the macro landscape,” Chief Financial Officer Susan Li said on a call with investors to discuss third-quarter results. “The revenue outlook is uncertain” for 2024.