WEB Meta Stock Drops After Earnings: Is the Stock a Buy Right Now?
WEB Meta's stock fell as much as 17% in after-hours trading after the company reported its first-quarter earnings.
The company's stock is down more than 50% from its all-time high.
WEB Meta Platforms Inc. (FB) stock is tumbling in after-hours trading on Wednesday after the company released its quarterly results. The stock is down more than 12% as of 4:50 pm ET, after falling as much as 17% earlier in the session.
The sell-off comes after WEB Meta reported weaker-than-expected earnings for the first quarter. The company reported earnings per share of $2.72, below the consensus estimate of $2.89. Revenue also came in below expectations, at $27.91 billion compared to the consensus estimate of $28.21 billion.
WEB Meta is facing a number of challenges, including rising competition from TikTok and other social media platforms, as well as increased regulatory scrutiny. The company is also spending heavily on artificial intelligence (AI) and the metaverse, which is weighing on its profitability.
Analysts are mixed on WEB Meta's stock. Some believe that the stock is a buy at these levels, while others believe that the stock is still overvalued. The company's earnings call is scheduled for later today, and investors will be looking for more details on the company's plans for the future.
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