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Meta CFO Says 'Significant Cash Tax Savings Ahead' After $15.9 Billion One-Time Hit Pushes Q3 Tax Rate To 87% - Meta Platforms (NASDAQ:META)

Meta Platforms Inc. (NASDAQ:META) suffered a $15.9 billion hit to profits during its third-quarter results, owing to a one-time tax hit.META is taking a hit from negative sentiment. Check the fundamentals here.CFO Promises ‘Significant Cash Tax Savings Ahead’During the company’s earnings call on Wednesday, CFO Susan Li said, “Our tax rate for the quarter was 87%,” which she said was “unfavorably impacted by a one-time noncash reduction in deferred tax assets,” which essentially means that this was just an a ...