Meta's Stock Plummets 19% After Earnings Call, Wiping Out $200 BILLION in Market Value from 98 parto unassisted Watch Video
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⏲ Duration: 0:43 👁 View: 1M times ✓ Published: 26-Apr-2024
Description: Meta's stock price dropped nearly 19% after hours on Wednesday, wiping out over $200 billion in market value following the company's first-quarter earnings call. On the call, Meta CEO Mark Zuckerberg spent most of his opening remarks focusing on the company's investments in AI and the metaverse rather than advertising, which currently generates 98% of revenue. Zuckerberg discussed projects like Meta AI, augmented reality glasses, and the company's mixed reality headset operating system, which could enable future monetization.