Meta Platforms (META) stock got hammered after the social media giant missed Wall Street's earnings expectations for the second quarter. The problem wasn't revenue, as Meta delivered record sales of $60.8 billion, up 28% year-over-year (YOY) and slightly ahead of estimates. Earnings per share fell 13% YOY to $6.18, while total costs and expenses jumped 55% to $42 billion. META stock plunged nearly 8% after the report, extending a painful losing streak. Meta Faces Growing Pressure in 2026META stock has already had a difficult year, with the latest earnings reaction making things worse.