Meta’s stock drops on light revenue guidance, dwindling free cash flow

Meta Platforms saw its stock price fall more than 6% in extended trading following the release of second-quarter earnings results and forward guidance that fell short of market expectations. The company provided third-quarter revenue guidance of between $61 billion and $64 billion, with a midpoint of $62.5 billion, compared with analyst expectations of $63.15 billion according to LSEG. The company attributed approximately 1% of the expected shortfall to unfavorable foreign currency headwinds ba