Reported about 16 hours ago
Meta reported third quarter earnings that exceeded revenue expectations but fell short on earnings per share due to a tax-related charge. Following the news, Meta's stock dropped over 6%. The company plans to significantly increase its capital expenditures for AI infrastructure, estimating $70-72 billion for 2025, up from previous forecasts. While Meta invests heavily in AI and data centers, its strategy remains focused on enhancing its advertising business rather than selling AI services to enterprises.
Source: YAHOO