Meta tumbles 10% on weak revenue forecast and Zuckerberg's comments on spending
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Meta says revenue will be weak as it spends even more on AI
Push to integrate AI into Meta products boosts financial results, but share prices tumble with weak sales forecastMeta’s drive to integrate artificial intelligence into its products yielded strong financial results for the second quarter in a row. The company plans to spend even more on AI in the coming months, though, and its share price slumped more than 15% as the company reported earnings Wednesday. A weak sales forecast and higher spending guidance rattled investors.Mark Zuckerberg said his...
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Spirit Airlines forecasts weak Q2 revenue on slow growth in domestic demand
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Meta shares drop after warning of weak revenue growth, higher AI expenses
Meta’s shares dropped about 10% in extended trade following the report, evaporating $125 billion worth of stock market value.