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What Facebook’s crushing projections mean for social media stocks
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And just like that, Mark Zuckerberg and Meta Platforms blew up the internet sector.
In reporting fourth-quarter results late 2 February, the Facebook company shocked investors with weak guidance for the March quarter. Facebook said revenue growth could be as low as 3% in the period; in the first quarter a year ago, Facebook’s revenue was up 48%.
That...
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