U.S. stocks opened significantly lower on Thursday as U.S. economic growth was much weaker than expected to start the year and prices rose at a faster pace, the Commerce Department reported Thursday.
Meta Platforms reported first-quarter earnings and revenue that topped expectations but guidance that missed forecasts, sending shares of the parent of Facebook and Instagram down 15%. Meta said it sees second-quarter revenue of between $36.5 billion and $39 billion; the midpoint of the range was just shy of consensus of $38.2 billion. Meta projected capital expenditures of between $35 billion and $40 billion this year, above its previous range of $30 billion to $37 billion, on higher artificial-intelligence-related spending.
Comments