Meta shares drop after warning of weak revenue growth, higher AI expenses

Meta Platforms on Wednesday forecast that second-quarter revenue could come in below market expectations, signaling a possible reality check around hopes for how much new AI tools may boost the company’s business.Meta’s shares dropped about 10% in extended trade following the report, evaporating $125 billion worth of stock market value.The Facebook and Instagram parent expects April-June revenue in the range of $36.5 billion-$39 billion, with a midpoint of $37.8 billion, compared with analysts’ estimates of ...