Meta-earnings show

  • earnings-per-share $2.46 vs. estimate $2.59
  • revenues 28.822 billion vs. estimate $28.94 billion
  • net income 6.687 billion
  • sees third-quarter revenue at 26 – $28.5 billion which is lower than the $30.59 billion estimate
  • quarter 2 monthly users 2.93 billion vs. 2.94 billion estimate
  • daily active users 1.97 billion vs. 1.96 billion estimate
  • monthly users 2.93 billion vs. 2.94 billion estimate

Meta-reduced their hiring and overall expense growth plans this year to account for the more challenging operating environment.

The stock is down around $7 or -4.17%