Why Meta Platforms stock is tumbling today

Benzinga Real-time News ·  05/24/2022 22:00  · Markets

Meta Platforms(FB.US) shares are trading lower Tuesday in sympathy with Snap Inc(SNAP.US) after the company issued guidance below the low end of its previously-issued forecast.During its most recent earnings report, Snap guided for second-quarter revenue growth of 20% to 25% year-over-year. The company said it expected adjusted EBITDA to be between breakeven and $50 million. "The macroeconomic environment has deteriorated further and faster than anticipated," Snap said Monday in a Form 8-K filing. As a result, the company now expects to report second-quarter revenue and adjusted EBITDA "below the low end" of its

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