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The Nexus
BUSINESSJul 29 · 20:31 UTCWPLG LOCAL 10 MIAMIBy BARBARA ORTUTAY, Associated Press

Meta shares drop as Q2 profit declines due to legal expenses and severance costs

Meta Platforms reported a 14% year-over-year decline in second-quarter profit to $15.85 billion due to $2.4 billion in legal expenses and $1.18 billion in severance costs from layoffs. Revenue rose 28% to $60.8 billion, exceeding analyst expectations, but shares fell 4.2% in after-hours trading.

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Meta Platforms Inc.organizationMark ZuckerbergpersonFacebookorganizationInstagramorganizationMessengerorganizationWhatsApporganizationlegal proceedingstopicseverance coststopic
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Meta shares drop as Q2 profit declines due to legal expenses and severance costs · The Nexus