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International News and Market Update: Facebook shares plunge more than

Shares of Facebook fell more than 20% in extended trading Wednesday after the company reported disappointing earnings, gave a weak outlook and said user growth is stagnant. Facebook said first-quarter revenue will be between $27 billion and $29 billion, while analysts had expected revenue of $30.15 billion, according to Refinitiv. That would represent 3% to 11% year-over-year growth. Meta said its Family of Apps posted fourth-quarter revenue of $32.79 billion and operating income of $15.89 billion. The Reality Labs segment posted revenue of $877 million in the quarter with an operating loss of $3.3 billion. Read more.

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