Meta Shares Fall Despite Earnings Beat on Massive AI Spending Plans

Meta shares fell after the company reported quarterly results, despite an earnings beat, as investors sold the stock over a massive commitment to AI spending. The move coincided with a drop in US technology stocks following the Meta and Tesla results.

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• Technology stocks fell sharply after the Meta and Tesla results, and the broader market also declined.

  «The U.S. stock market was set to fall sharply Thursday as tech names sold off after Meta and Tesla earnings.»

  Barron's
• The sell-off also extended to gold, silver, bitcoin and Treasury yields.

  «But the broader market was also down, along with gold, silver, bitcoin and Treasury yields.»

  Barron's
• Meta shares dropped to $651.61 during the session, after being at $677.50 in pre-market pricing, and selling intensified as the session progressed.

  «Shares are down intraday to $651.61 and were down 7.3% around midday.»

  investinglive
• One report described the quarter as very strong, but the scale of the committed spending raised a question that the earnings beat alone does not answer.

  «Meta just posted a blowout quarter, yet investors are dumping the stock.»

  24/7 Wall St.

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