US Stock Movement | Q3 Net Profit Plummets Meta Platforms Drops Over 12%
On Thursday, Meta Platforms opened with a drop of over 12%, marking the largest decline since April 2024, closing at $661.62. In terms of news, the company's third-quarter revenue was $51.2 billion, a year-on-year increase of 26%; net profit was $2.7 billion, far below analysts' expectations. The company attributed the significant decline in net profit to a one-time tax expense of $15.93 billion related to the push for Trump's "Great Beauty Act." Meta expects fourth-quarter revenue to be between $56 billion and $59 billion, roughly in line with market expectations. Meta also raised its capital expenditure forecast for 2025, expecting spending to be between $70 billion and $72 billion, compared to the previous estimate range of $66 billion to $72 billion. Additionally, according to informed sources, Meta Platforms plans to raise at least $25 billion through bond issuance. Against the backdrop of significant growth in spending in the current artificial intelligence (AI) sector, the company is using this to supplement its cash reserves
According to Zhitong Finance APP, on Thursday, Meta Platforms (META.US) opened with a drop of over 12%, marking the largest decline since April 2024, closing at $661.62. In terms of news, the company's third-quarter revenue was $51.2 billion, a year-on-year increase of 26%; net profit was $2.7 billion, far below analysts' expectations. The company attributed the significant decline in net profit to a one-time tax expense of $15.93 billion related to promoting Trump's "Great Beautiful Act." Meta expects fourth-quarter revenue to be between $56 billion and $59 billion, roughly in line with market expectations. Meta also raised its capital expenditure forecast for 2025, expecting spending to be between $70 billion and $72 billion, compared to the previous estimate range of $66 billion to $72 billion.
Additionally, according to informed sources, Meta Platforms plans to raise at least $25 billion through bond issuance. Against the backdrop of significant growth in spending in the artificial intelligence (AI) sector, the company is using this to supplement its cash reserves
