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Facebook owner’s increased spending projections cause Meta shares to lose $125bn

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April 24, 2024
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Shares in Meta, the parent company of popular social media platforms Facebook, WhatsApp, and Instagram, experienced a significant drop in after-hours trading in New York on Wednesday. The decline was sparked by the company’s announcement that it had revised its cost forecast for the current year. According to Meta’s first-quarter results, the company expects to incur additional expenses to fund…

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