Los Angeles | Meta Platforms chief executive Mark Zuckerberg has asked investors for patience with the social media giant’s swelling investments in unproven bets at an already-challenging time for digital advertising companies.

Investors wiped about $US67 billion ($103 billion) from Meta’s stock market value. The company’s shares slumped almost 20 per cent in late trading, after it gave a disappointing quarterly revenue outlook on Wednesday (Thursday AEDT). The sell-off added to the more than half a trillion dollars in value already lost this year.

Bloomberg