Meta's shares dropped over 12% due to a staggering $16 billion tax charge, marking its biggest loss in years. Meanwhile, Microsoft and Alphabet reported mixed quarterly results, with Alphabet hitting a record revenue.
Meta, the parent company of Facebook and Instagram, achieved a record $51.2 billion in Q3 revenue. However, a massive $15.93 billion tax charge led to a significant earnings drop, disappointing Wall Street expectations.
