META stock falls nearly 12% from its July high before reporting second-quarter results following a record losing streak.
Meta Platforms (META) will release second-quarter earnings after the bell, capping a nine-session losing streak—the longest in its history. The stock has declined nearly 12% from its July intraday high of $681.90 to $593.41 ahead of the report.
The drop follows a broader tech sector pullback and concerns over advertising revenue growth. Meta’s prior quarter saw revenue rise 27% year-over-year, but investor focus remains on costs and user engagement trends.
No immediate market reaction was reported before the earnings release.