Meta beats on Q3 revenue at $64.6B but guides 2026 capex up to $145B
Revenue topped estimates, but a much bigger 2026 spending plan sent the stock down 6.98% the next day.
Meta reported third-quarter results after the bell on Oct. 21.
| Item | Detail |
|---|---|
| Revenue | $64.6B (consensus $63.4B) |
| EPS | $7.40 excluding a one-time $9.89B settlement charge |
| Q4 revenue outlook | $73B–$76B |
| 2026 capital spending | $135B–$145B |
| Next-day stock move | -6.98% (Oct. 22), -9.40% for the week |
- Why it matters: Results were strong, but rising AI data-center spending worried investors, and the concern spread across tech the next day as the Nasdaq fell 2.6%.
- The shift: Investors are asking less about growth and more about whether AI spending can pay for itself.
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