U.S. Stocks Open Significantly Lower on Thursday; Meta Stock Plunges 15%

Tiger Newspress04-25

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.

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Comments

  • Andrewinho
    04-25
    Andrewinho
    Great!! 👏👏👏👏👏
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