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Meta's stock sank after hours. Share prices were down 17% after Facebook's parent company issued weak revenue guidance on today's earnings call.
Wall Street analysts are standing by Meta Platforms despite Thursday's sell-off.
Meta Platforms reported Q1 2024 earnings. Analysts have mixed views, with some optimistic about Meta's focus on AI and the Metaverse, while others recommend selling the stock. Wedbush favors Google, while Needham suggests using Meta as a source of funds.
Wall Street is upbeat heading into Meta Platforms' first-quarter earnings, with analysts touting its leadership in ad spending and AI initiatives.
Lawmakers voted in favor of banning social media platform TikTok just ahead of rival Meta Platforms' earnings report.