US Stock Movement | Q3 Net Profit Plummets Meta Platforms Drops Over 12%

On Thursday, Meta Platforms opened with a drop of over 12%, marking the largest decline since April 2024, closing at $661.62. In terms of news, the company's third-quarter revenue was $51.2 billion, a year-on-year increase of 26%; net profit was $2.7 billion, far below analysts' expectations. The company attributed the significant decline in net profit to a one-time tax expense of $15.93 billion related to the push for Trump's "Great Beauty Act." Meta expects fourth-quarter revenue to be between $56 billion and $59 billion, roughly in line with market expectations. Meta also raised its capital expenditure forecast for 2025, expecting spending to be between $70 billion and $72 billion, compared to the previous estimate range of $66 billion to $72 billion. Additionally, according to informed sources, Meta Platforms plans to raise at least $25 billion through bond issuance. Against the backdrop of significant growth in spending in the current artificial intelligence (AI) sector, the company is using this to supplement its cash reserves