Q3 revenue $64.6B vs $63.3B expected Q4 revenue guide $73–76B vs $73.7B expected Q3 capex $34.9B; free cash flow turned negative 2026 capex $135–145B (floor raised from $130B) $825B in future spending commitments New nonvoting Class C shares through a 2-for-1 split Meta beat on…
venue, beat on guidance, and the stock is still down 7% and that’s a troubling sign for everything touching AI. It’s also trading below where it did before the rollout of the impressive Muse app
Shares are down intraday to $651.61 and were down 7.3% around midday. Meta was off about 3% premarket at $677.50, and the selling has intensified as the session wears on. w The ad business isn’t the problem. Revenue rose 26% to $64.6 billion, comfortably ahead of estimates.
The Q4 range of $73–76 billion has a $74.5 billion midpoint, above the $73.7 billion consensus, and implies roughly 24% growth. Strip out the lawyers and earnings were even better. GAAP EPS was $3.83 vs $3.56 expected and would have been $7.40 without the legal charge.