TradingKey – After market close on October 21, Meta (META) released its third-quarter earnings report, which showed revenue above expectations while its advertising business continued double-digit growth. However, after the report was released, its stock price plunged 6.98% on October 22. Why did the stock price fall despite revenue beating expectations?
Meta reported third-quarter revenue of $64.601 billion, up 26% year-over-year and exceeding prior market expectations of approximately $63.3 billion to $63.4 billion. Among this, advertising revenue reached $63.061 billion, an increase of about 26% year-over-year. Family of Apps ad impressions rose 10% year-over-year, with the average price per ad increasing by 14%; in September, Family…
