Third quarter earnings show degrading company finances.
The company shares have lost over half of its value this year.
META stock was trading at a market price of $101.47 at the publication time.
Meta Platforms’ Degrading Financials
The year is getting worse for Meta Platforms (NASDAQ:META) as the company was seen struggling with its financials. Poor quarterly earnings sent several blows to META stock price throughout the year. But Mark Zuckerberg is trying to keep the ship afloat in this vast ocean and announced an employment cut of 11,000 employees. The organization also planned to compensate the ones getting fired from their jobs.
The number translates to 13% of the total employees active in the organization. Zuck Bucks said that they will stop hiring until the end of Q1 2023. According to the latest quarterly financials, company expenses have raised significantly during the third quarter this year since Q4 2020. The organization has sent a lion’s share of these expenses in thei
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