New Delhi, July 30 -- META) fell $24.76, or 4.2 percent, to $560.85 in after-hours trading.

Net income for the second quarter was $15.85 billion, down 14 percent from $18.34 billion a year earlier, per the company's disclosure filed with the Securities and Exchange Commission Wednesday evening. Two extraordinary charges accounted for the miss. Meta took a $2.4 billion provision for legal proceedings and booked $1.18 billion in severance expenses as headcount reductions continued across non-technical functions. Total expenses for the quarter reached $42.03 billion, a 55 percent increase year-over-year.

The company identified no specific legal case in its initial release, providing only the dollar figure and a classification. Privacy liti...