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Meta Projects Higher Spending, Weaker Revenue Amid AI Push

Meta Platforms Inc. increased its spending estimates for the year and projected second quarter sales that were below Wall Street’s expectations, once again raising questions about whether its futuristic technological bets will eventually pay off for investors.

Reuters on MSN · 4h

Meta forecasts higher AI spending and weaker revenue

Meta Platforms disappointed investors on Wednesday with forecasts of higher expenses and lighter than expected revenue, sending its shares tumbling as it races to catch up in AI. Shares of the Facebook and Instagram parent dropped about 13% in extended trade following the report,

Business Insider on MSN · 3h

Meta's AI plans are costing way more than they thought

Meta's was off by at least $5 billion in capital expenditures and $2 billion in projected total expenses for 2024.

Meta, Q1

The New York Times · 4h

Meta’s Profits More Than Double, While Spending on A.I. Rises

The owner of Facebook, Instagram and WhatsApp continued to grow, even as it said it would spend billions of dollars more on artificial intelligence.

The Associated Press on MSN · 5h

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours

Facebook and Instagram parent company Meta said Wednesday its first-quarter profit more than doubled, boosted by higher advertising revenue and a 6% increase on the average price of ads on its platforms.

TheWrap on MSN · 5h

Wall Street Flashes Concerns Over Meta's Expensive Push Into AI Development

Meta' aggressive push into AI development spooked Wall Street on Wednesday, despite the tech company reporting first quarter income that soared by 117% on revenues up 27% to $36.46 billion, both of which beat analysts' consensus estimates.

COVID-19, Oklahoma

Washington Examiner on MSN · 9h

Questionable federal grant spending could put Oklahoma on the hook for millions

An audit of $13 billion in federal grant money by Oklahoma State Auditor Cindy Byrd shows questionable spending of millions that could be clawed back by the federal government. The largest amount in question is $21 million allotted to Communities Foundation of Oklahoma,

Yahoo · 1d

Audit questions millions in Oklahoma COVID spending. Drummond calls for agency head to resign.

Poor oversight and loose contracting practices led to questionable spending of millions of pandemic relief funds meant to help struggling Oklahomans during COVID-19, a state audit has found. In a report released Tuesday,

Journal Record · 7h

Audit questions millions in COVID spending

Poor oversight and loose contracting practices led to questionable spending of millions of pandemic relief funds meant to help struggling Oklahomans during COVID-19, a state audit has found.

Massachusetts, shelter

The Boston Globe on MSN · 5h

Mass. lawmakers reach deal on spending bill to fund cash-strapped emergency shelter system

The announcement of a supplemental budget agreement comes as officials warn the system is nearly out of money.

MassLive · 3h

Mass. lawmakers have a deal on shelter funding. Here’s what’s in it

The compromise agreement announced Wednesday pumps hundreds of millions of dollars more in public money more the system.

Boston Herald on MSN · 5h

Beacon Hill Democrats reach deal on spending bill that could include millions for shelters

Top Beacon Hill Democrats reached a deal Wednesday on a spending bill that could include millions for the emergency shelter system, key dollars that come as Gov. Maura Healey’s administration is running out of cash to pay for services.

Visa, consumer spending

Reuters · 1d

Visa results beat estimates on resilient consumer spending

Visa's second-quarter results sailed past Wall Street estimates on Tuesday, as consumers shrugged off worries of a slowing economy to swipe cards on everything from travel to dining out, sending its shares up 2.

Bloomberg L.P. · 1d

Visa Profit Climbs 17% as Consumer Credit-Card Spending Grows

Visa Inc. reported a quarterly profit that beat Wall Street predictions as US credit-card spending climbed. Adjusted net income for the fiscal second quarter rose 17% to $5.1 billion, or $2.51 a share,

MarketWatch on MSN · 1d

Visa’s stock gains as earnings continue to show healthy spending growth

Visa’s results come after American Express Co. also delivered upbeat earnings last week that showed healthy spending growth. See also: American Express says cardholders are buying lots of ‘front of cabin’ plane tickets,

CNET6h

Balancing Splurging and Spending Is Hard. I’m an Accountant, Here’s My Advice

If you’re looking for extra motivation, ask a trusted family member or friend to help you stay accountable. Surrounding ...

4hon MSN

Jeremy Hunt defends civil service job cuts to increase defence spending

The chancellor says cutting services will cost "a great deal less" than allowing Russia to succeed in Ukraine.

11hon MSN

Tepid US core capital goods orders point to weak business equipment spending

New orders for key U.S.-manufactured capital goods rose moderately in March and data for the prior month was revised lower, ...

Kids spending longer in King County juvenile detention, audit finds

The report comes as King County grapples with efforts to reduce youth incarceration and after a pledge by the county ...

15hon MSN

Sen. Lee rails against spending 'money we don't have' as Senate passes foreign aid bill: 'It’s cowardice'

Utah Sen. Mike Lee criticized the Senate's passage of the foreign aid package Tuesday night, blasting lawmakers for spending ...

6hon MSN

Silver hair, silver dollars: Wyoming's aging population means big spending for the state

The graying of America, and Wyomingites, need long-term care in the coming decades. How will the state deal with the cost?

All Nato nations should match UK’s defence spending target, says Shapps

Defence secretary says PM will make case for spending boost at Nato’s 75th anniversary summit later this year ...

Credit card reconciliation: How business owners can eliminate inflated costs and wasteful spending when tracking expenses

Ramp dives into credit card reconciliation and provides steps to help businesses set up efficient, accurate systems.

4hon MSN

Meta shares sink after it reveals spending plans

Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings. The Facebook and ...

8hon MSN

Believe it or not, we're spending less time in meetings than we used to

Desk workers aren't spending as much time in meetings as just a few years ago, per a survey. Still, the cost of inefficient ...

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