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Kiplinger
Kiplinger
Business
Joey Solitro

Meta Stock Slides as AI Spending Ramps Up: What To Know

Facebook Brent Thill Mark Zuckerberg Artificial Intelligence Meta
Meta Platforms logo on booth at Hannover Messe 2024 trade fair in Germany.

Meta Platforms (META) beat analysts' top- and bottom-line estimates in its first-quarter earnings report. Nevertheless, META stock plunged 10.6% in Thursday's session.

In the three months ended March 31, the Facebook parent reported revenue of $36.5 billion, an increase of 27.3% from the year-ago period. Earnings per share (EPS) more than doubled to $4.71.

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