Results for: Expenses

Meta Platforms’ stock price plunged by 10% after the company announced a lower-than-expected revenue forecast for the second quarter. Meta expects revenue to be between $36.5 billion and $39 billion, compared to analysts’ predictions of $38.3 billion. This disappointing forecast reflects a potential slowdown in revenue growth due to the limited impact of new AI tools and increased expenses for supporting these investments. Meta also raised its spending projections for this year, including capital expenditure and total expenses.

New Brunswick’s Minister of Tourism, Tammy Scott-Wallace, faced questions about Deputy Minister Yennah Hurley’s expenses, including over $19,000 in moving costs. The expenses, which were incurred when Hurley relocated from Quispamsis to Fredericton, include a $15,000 real estate commission and $3,550 for movers. Green Leader David Coon and Liberal MLA Rene Légacy criticized the expenses, arguing that taxpayers should not be paying for the moving costs of government employees. Premier Blaine Higgs has stated that the executive council office will be reviewing policies on overseas travel expenses.

MSCI’s stock price experienced a significant drop of 13.2% in late morning trading on Tuesday following the release of its first-quarter 2024 financial results. The company’s profitability was impacted by higher expenses, which overshadowed higher-than-expected adjusted EPS. Operating revenue slightly missed analyst estimates, while total operating expenses surged by 22.7% year-over-year. Despite these challenges, MSCI reported growth in its total run rate and recurring subscription run rate. The company also reaffirmed its outlook for fiscal year 2024.