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$META stock is now down 10% after earnings.
What's interesting is there really isn't anything in the report out of the normal.
- Capex guidance was slightly narrowed
- EPS was a miss, but only due to legal and severance charges (huge beat if not for those)
- Average price per ad & ad impressions were up 12% and 14%
None of this should have come as a huge surprise.
$META now trades at just 15x earnings.
#BigTechEarningsNight
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