{"id":77254,"date":"2024-04-24T20:07:18","date_gmt":"2024-04-25T00:07:18","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=77254"},"modified":"2024-04-24T20:07:31","modified_gmt":"2024-04-25T00:07:31","slug":"meta-falls-15-on-weak-outlook-and-high-ai-metaverse-spending","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/meta-falls-15-on-weak-outlook-and-high-ai-metaverse-spending\/","title":{"rendered":"Meta Falls 15% on Weak Outlook and High AI, Metaverse Spending"},"content":{"rendered":"\n

Meta (META)<\/a> shares dip 15% in after-hours trading as plans to boost AI spending and sustained metaverse losses coincide with a dim revenue outlook.<\/p>\n\n\n\n

\"Meta
Meta Falls 15% on Weak Outlook and High AI, Metaverse Spending<\/figcaption><\/figure>\n\n\n\n

In after-hours trading, Meta (META) shares fell 15% following the company's announcement that it will “substantially” increase expenditure on artificial intelligence<\/a>. At the same time, its metaverse division will continue to operate at a loss due to a bleak revenue outlook.\u00a0<\/p>\n\n\n\n

In its results report for the first quarter of 2024, released on April 24th, the multinational corporation projected an increase in expenses from $94 billion to $99 billion to a range of $96 billion to $99 billion, citing “higher infrastructure and legal costs.”<\/p>\n\n\n\n

Additionally, the company increased its full-year 2024 capital expenditures from $37 billion to a maximum of $40 billion, stating that it would “invest aggressively to support our ambitious AI research\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and product development.”\u00a0<\/p>\n\n\n\n

Its Reality Labs, which is developing the metaverse, incurred a loss of $3.85 billion in the first quarter, a decrease from the nearly $4 billion it lost in the first quarter of 2023. However, Meta anticipated these losses would increase annually to fund the division's product development.<\/p>\n\n\n\n

According to Google Finance, Meta shares fell 15.4% after-hours on April 24 to $417.22, after concluding the day down 0.5% at $493.50. Despite this, Meta is up 42.5% year-to-date following its all-time peak of $527.34 on April 5.<\/p>\n","protected":false},"excerpt":{"rendered":"

Meta (META) shares dip 15% in after-hours trading as plans to boost AI spending and sustained metaverse losses coincide with a dim revenue outlook. In after-hours trading, Meta (META) shares fell 15% following the company’s announcement that it will “substantially” increase expenditure on artificial intelligence. At the same time, its metaverse division will continue to […]<\/p>\n","protected":false},"author":36,"featured_media":77260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5794],"tags":[7438,6803,5630,19297],"class_list":["post-77254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metaverse-news","tag-metaverse-3","tag-ai-2","tag-meta","tag-outlook"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/04\/facebook-meta-la-gi-vi-sao-facebook-lai-doi-ten-thanh-meta_62877b36706e8.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=77254"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/77254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/77260"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=77254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=77254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=77254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}