Meta AI Capex (Up 7%) Is a Bad Surprise -- Could This Be the Next Metaverse?

Meta Platforms (NASDAQ: META) reported earnings on Wednesday, and the news didn't go over well with investors. The company reported some positive results, like a 33% year-over-year increase in quarterly revenue and a 12% year-over-year increase in average price per ad.But there was bad news about costs. The company's ambitions to be a leader in artificial intelligence (AI) are getting more expensive. Meta stock dropped 8.6% on Thursday, the day after the earnings report. The company's shares are down 7% year to date and have underperformed the tech-heavy Nasdaq-100 index and the S&P 500 index for the past year. Investors aren't buying this company's AI story.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool