Future Tech
Meta shares plunge 16% in Frankfurt after AI spending, revenue forecast
LONDON - Meta Platforms shares plunged 16% early in Frankfurt on Thursday after forecasts of higher expenses and lighter revenue than expected disappointed investors.
Shares in the Facebook parent were down 15.9% by 0614 GMT. Meta shares dropped sharply in after-hours trading on Wall Street the previous day after the company's first-quarter earnings report raised fears that the surging cost of AI is outweighing its benefits.
- Reuters
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