• Tue. May 21st, 2024

Why Meta Platforms Stock Is Falling After Hours

ByAdam Eckert

Jul 21, 2022
Why Meta Platforms Stock Is Falling After Hours


Meta Platforms Inc META shares are trading lower in Thursday’s after-hours session in sympathy with Snap Inc SNAP, which reported worse-than-expected financial results.

Snap said second-quarter revenue increased 13% year-over-year to $1.11 billion, which missed the estimate of $1.14 billion, according to data from Benzinga Pro. The social media company reported a quarterly loss of 2 cents per share, which missed the estimate for a loss of 1 cent per share. Daily active users increased 18% year-over-year to 347 million.

Given uncertainties related to the operating environment, Snap said it would refrain from providing third-quarter revenue and adjusted EBITDA guidance.

Related Link: Snap Q2 Earnings Highlights: Stock Tanks On No Q3 Guidance, Revenue And EPS Miss

Meta Platforms operates an ecosystem of social media-related applications including Facebook, Instagram, Messenger and WhatsApp.

Meta is scheduled to announce its second-quarter financial results after the market closes on July 27.

META Price Action: Meta has traded between $384.33 and $154.25 over a 52-week period.

The stock was down 4.95% in after hours at $174.10 at press time.

Photo: Gerd Altmann from Pixabay.


Image and article originally from www.benzinga.com. Read the original article here.