Quartz·2 min read·medium
Meta's stock sank after legal charges and AI spending eroded its profit
✦AI Summary
Meta's stock price declined following a 14% drop in net income and a 55% increase in operational expenses. The company's financial performance was impacted by legal charges and heavy investment in artificial intelligence.
The social media company's net income fell 14% year over year as expenses surged 55%, and its free cash flow shrank to $784 million
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