Meta (META) CEO says a trajectory change in the ad business occurred due to the Iran conflict, which has impacted consumer spending on discretionary items; the planned layoffs is linked to the need to increased data centre spending, WSJ reports

Meta's CEO has highlighted a significant shift in the company's advertising trajectory, citing the Iran conflict as a factor affecting consumer spending, particularly on discretionary items. This, combined with increased data center investments leading to planned layoffs, has raised investor concerns, contributing to an 8% drop in share price. Investors will likely be analyzing how these factors may influence Meta's Q2 growth outlook and overall profitability.