Facebook parent Meta Platforms Inc (META.O) on Wednesday forecast a weak holiday quarter and significantly more losses from Metaverse investments next year. The forecast knocked about $40 billion off its stock market value in extended trade. On top of the disappointing outlook, Meta is contending with slowing global economic growth, competition from TikTok, concerns about massive spending on the Metaverse and the ever-present threat of regulation. The parent company of Facebook and Instagram beat estimates for quarterly revenue, which fell 4% to $27.7 billion in the third quarter ended Sept. 30, from $29 billion last year. It also posted user growth figures roughly in line with expectations, including a year-over-year increase of monthly active users on Facebook. . . .
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