Investing.com - Meta Platforms reported on Wednesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Meta Platforms announced earnings per share of $2.46 on revenue of $28.82B. Analysts polled by Investing.com anticipated EPS of $2.56 on revenue of $28.94B.
Meta Platforms shares are down 49% from the beginning of the year and are trading at $167.10 , down-from-52-week-high.They are under-performing the S&P 500 which is down 15.58% from the start of the year.
Meta Platforms shares lost 1.46% in after-hours trade following the report.
Meta Platforms follows other major Communication Services sector earnings this month
Meta Platforms's report follows an earnings missed by Alphabet C on Tuesday, who reported EPS of $1.21 on revenue of $69.69B, compared to forecasts EPS of $1.28 on revenue of $70.04B.
Verizon had missed expectations on Friday with second quarter EPS of $1.31 on revenue of $33.79B, compared to forecast for EPS of $1.32 on revenue of $33.74B.
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