Shares of Facebook parent Meta dive 11% on disappointing results

Shares of Facebook parent Meta plunged more than 11 percent early Thursday after third-quarter profits missed analyst expectations.

Profits sank 83 percent to $2.7 billion following a roughly $16-billion hit from a one-time accounting shift due to a US fiscal overhaul legislation favored by President Donald Trump.

Meta also signaled it expects 2025 capital spending of $70-72 billion due to heavy AI investments.