Mark Zuckerberg's Meta sees profits crashing as it takes a $16 billion tax charge related to Donald Trump's 'Big Beautiful Bill'
Meta Platforms faced a staggering $16 billion tax charge due to President Trump's 'One Big Beautiful Bill Act,' significantly impacting its third-quarter net income. Despite a brief market dip, the company's stock showed resilience. CEO Mark Zuckerberg highlighted a strong business quarter and exciting future prospects, with Meta ending with substantial cash reserves and a growing workforce.
Meta Platforms faced a staggering $16 billion tax charge due to President Trump's 'One Big Beautiful Bill Act,' significantly impacting its third-quarter net income. Despite a brief market dip, the company's stock showed resilience. CEO Mark Zuckerberg highlighted a strong business quarter and exciting future prospects, with Meta ending with substantial cash reserves and a growing workforce.
