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Kiplinger
Kiplinger
Business
Joey Solitro

Meta Stock Slips as Facebook Parent Ramps Up AI Spending

Facebook Meta Oppenheimer
Meta Platforms logo on booth at Hannover Messe 2024 trade fair in Germany.

Meta Platforms (META) stock is trading in negative territory Thursday after the parent company of Facebook and Instagram beat top- and bottom-line expectations for its third quarter, but came up short on user growth. A big boost in the company's spending outlook is also causing concern for investors.

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