If you own stocks, bad news, you probably just lost money.
Social networking giant Meta, better known as Facebook, is off more than 20% in after-hours trading. And Spotify, music streaming impressario and podcasting middleweight, is off more than 15% after the close of trading today. Both sharp declines come in the wake of underwhelming results from PayPal, which also saw its shares fall, and pretty good results from Alphabet.
Alphabet’s strong Q4 performance is starting to look more like an outlier than median-indicator.
Let’s talk Meta, and then Shopify, and parse out just what is going on.
Meta’s expensive quarter and slack guidance
In the fourth quarter, Facebook generated revenues of $33.67 billion, leading to operating income of $12.59 billion, and net income of $10.29 billion. The co …
