Meta Stock Drops 7% After One-Time Expense of 16 Billion USD in the Third Quarter

Meta Platforms recorded a one-time expense of 16 billion USD in the third quarter, triggered by the implementation of a newly enacted US tax law. This burden dramatically impacted net profit: earnings dropped to 1.05 USD per share, down from 6.03 USD per share in the same period last year. Without this special effect, net profit would have been 7.25 USD per share. Meta's stock fell about 7% in after-hours trading. Significant Increase in Costs Total expenses climbed by 32% to 30.71 billion USD, primarily due to rising research and development...