Meta's Earnings Fall Short and Stock Drops 10%

Meta earned $6.18 per share last quarter, missing the $7.22 Wall Street expected, on $60.8 billion in revenue. Rising costs were a factor. The company also signaled lower revenue ahead, per CNBC. That outlook matters more than past results — it changes what investors think the company is worth. Shares fell as much as 10% after hours on July 29.