LONDON (Reuters) - Meta Platforms ( META ) shares plunged 16% early in Frankfurt on Thursday after forecasts of higher expenses and lighter revenue than expected disappointed investors.

Shares in the Facebook parent were down 15.9% by 0614 GMT. Meta shares dropped sharply in after-hours trading on Wall Street the previous day after the company's first-quarter earnings report raised fears that the surging cost of AI is outweighing its benefits.