Meta Platform’s revenue fell 4% to $32 billion last quarter, as the company continued to struggle with a slowdown in its advertising business. The drop, however, was at the lower end of the company’s forecast of a decline between 3.4% and 11%. The company’s stock climbed after the announcement, buoyed by the news of a $40 billion stock buyback. Reality Labs, the department behind Meta’s...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals.
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