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Meta shares drop 10% after guidance disappoints on revenue and cash flow
Meta’s stock fell about 10% after the company issued revenue guidance that investors viewed as weaker than expected, according to CNBC Markets and CNBC World.
Alongside the softer outlook, Meta also signaled that its free cash flow picture was deteriorating, with reporting that the company was seeing dwindling free cash flow.
The guidance update also included a change to how Meta plans to spend on capital expenditures for the year, with the capex range narrowed as part of the updated outlook.
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