Meta Platforms raises 2026 capital expenditure guidance amid strong revenue growth but investor concerns over spending returns.
Meta Platforms increased its 2026 capital expenditure forecast to a range of $130 billion to $145 billion, up from a prior $125 billion to $145 billion guidance. The company declined to provide a 2027 outlook but indicated plans to maximize capacity in 2024 and 2025, suggesting further increases ahead.
Second-quarter revenue rose 28% year-over-year to $60.8 billion, surpassing analyst expectations of $60.17 billion. Earnings per share (EPS) fell 13% to $6.18, missing estimates of $7.22, though adjusted EPS reached $7.35 after excluding $2.4 billion in legal costs and $1.2 billion in severance charges.
Shares declined following the report as investors weighed strong revenue growth against elevated spending concerns. Meta’s focus on scaling infrastructure continues to draw scrutiny over long-term returns.