Meta Platforms (META) stock slides in after-hours trading after releasing third quarter earnings. Revenue beat analysts’ estimates, but the company’s year-over-year earnings loss due to a nearly $16 billion tax hit seemed to rattle investors.
Seaport Research Partners senior internet analyst Aaron Kessler joins Market Domination Overtime to discuss the stock move, explaining it’s likely the one-time tax charge and hefty spending that worried investors. The analyst examine’s Meta’s opportunity in the AI and hardware space.