EARNINGS: Meta’s User Growth Stalls
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Meta reported a 19% increase in third-quarter revenue to $40.59 billion, driven primarily by advertising revenue.
However, the company fell short of user growth expectations and is anticipating increased infrastructure costs in 2025, largely due to AI investments.
Meta’s stock price decreased 0.249% on Wednesday, October 30th, closing at $591.80. It fluctuated within a range of $589.38 to $601.20 during the day.
The stock has increased 2.6% over the past two weeks.
While the price declined on Wednesday, trading volume increased by 12 million shares, which could be a potential warning sign for increased volatility in the near future.
A total of 24 million shares were traded for approximately $14.20 billion.
Meta’s stock is currently in a strong, upward trend. Key levels are $595.94 resistance and $563.33 support.
