Meta Platforms shares drop on mixed Q2 results and analyst concerns. Revenue beat, but legal charge and severance costs create drag.
Meta Platforms Inc. (NASDAQ:META) shares slid nearly 9% on Thursday as investors digested the firm’s mixed second-quarter results. Revenue of $60.8 billion beat estimates, but a $2.4 billion legal charge and $1.18 billion in severance costs dragged earnings per share to $6.18, well below Street expectations near $7.19. Analysts responded with a wave of price-target cuts, even as most held their ratings steady.
META stock feels the heat. See the chart and price action here.
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