Meta shares drop as Q2 profit declines due to legal expenses and severance costs
Meta Platforms said Wednesday its second-quarter profit declined even as revenue beat Wall Street's expectations, as legal expenses and severance costs for recent layoffs weighed on its results. The Facebook and Instagram parent company earned $15. 85 billion, or $6. 18 per share, in the April-June period. That's down 14% from $18. 34 billion, or $7. 14 per share, in the same period a year earlier. Revenue grew 28% to $60. 8 billion from $47. 52 billion. Analysts, on average, were expecting of...
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