Facebook’s parent company, Meta Platforms, extended its losses on Feb. 7, dipping more than 5 percent as the fallout from a rough earnings report continues.
In its fourth-quarter report, the social media giant formerly known as Facebook last week confirmed earnings of $3.67 per share, down from $3.88 in the same period in 2021. Earnings also fell short of the market estimate of $3.85 per share. However, sales surged to $33.67 billion, up from $28.1 billion from the year-earlier period, and topping the median forecast of $33.4 billion.
