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META

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Meta shares dropped as much as 9% on Wednesday after the company reported third-quarter earnings that beat on sales, but it also reported a $15.93 billion one-time tax charge.

Here's how the company did, compared with estimates from analysts polled by LSEG:

Earnings per share : $7.25 adj. vs. $6.69 estimated

Revenue : $51.24 billion vs. $49.41 billion estimated

Meta said that the implementation of President Donald Trump's One Big Beautiful Bill Act resulted in the one-time, non-cash income tax charge. The company said it expects Trump's law to result in "a significant reduction" in its U.S. federal cash tax payments for the rest of 2025 and future years.

The company's third-quarter sales rose 26% year-

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