Meta reported Q2 EPS of $6.18 on $60.8B revenue, missing analyst estimates as capex guidance increased.
Meta Platforms (META) saw its stock fall 10% in premarket trading after reporting second-quarter earnings per share of $6.18, below the $7.14 analysts expected. Revenue reached $60.8 billion, slightly above the $60.2 billion consensus, while advertising revenue hit $59.3 billion, marginally surpassing expectations of $59.07 billion.
The company narrowed its 2026 capital expenditure range to $135 billion-$145 billion from $125 billion-$145 billion, raising the lower end. Meta plans to spend up to $145 billion this year, primarily on data center expansion, fueling investor concerns over cash flow.
Analysts described the quarter as “barely passable,” noting that revenue guidance fell short of expectations despite modestly positive cash flow. The earnings miss and elevated capex outlook weighed on investor sentiment.