Facebook's stock drops 20% after weak earnings and a big forecast miss

Late Wednesday, Meta Platforms (FB) reported fourth-quarter results and outlook below 

EXPECTATIONS. THE COMPANY'S FIRST REPORT SINCE REBRANDING FROM FACEBOOK THREE MONTHS

 AGO. FB STOCK FELL. THE COMPANY EARNED $3.67 PER SHARE ON $33.67 BILLION IN REVENUE. ACCORDING TO 

FACTSET, META EARNED $3.85 ON $33.7 BILLION IN REVENUE. REVENUE INCREASED 20% FROM THE 

PRIOR QUARTER, THE SLOWEST GROWTH IN SIX QUARTERS. FACEBOOK EXPECTS FIRST-QUARTER REVENUE OF $27-29 BILLION, 

A 3-11% INCREASE. $30.2 BILLION WAS EXPECTED. "WE EXPECT HEADWINDS TO BOTH IMPRESSION AND PRICE 

GROWTH IN THE FIRST QUARTER," FACEBOOK SAID IN ITS EARNINGS RELEASE. FB STOCK FELL 20.7 PERCENT TO 256.50 IN AFTER-HOURS 

TRADING TODAY. META HAD PREVIOUSLY WARNED OF EARNINGS REPORT UNCERTAINTY. THIS INCLUDES CONTINUED 

HEADWINDS FROM APPLE'S (AAPL) OPERATING SYSTEM CHANGES. CHANGES GIVE USERS MORE PRIVACY CONTROL.