On April 24, Meta reported its earnings result for the first quarter of FY24. It reported Q1 2024 revenues of $36.46 billion, beating the $36.14 billion estimate and marking a 27% year-over-year increase. EPS was $4.71, above the expected $4.32.
Disappointing Q2 Outlook Triggers Meta Stock Plunge
The primary factor troubling investors is the profit squeeze resulting from reduction in sales and increase in expenses. This directly affe...