Meta posts Q3 earnings beat, but stock falls on heavy spending plans

Published On Oct 30, 2024, 4:19 PM

Meta has reported a strong Q3 earnings performance, exceeding analyst expectations with earnings per share of $6.03 and revenue of $40.5 billion. They forecast $45 billion to $48 billion in revenue for Q4. However, Meta's stock fell over 3% due to concerns about increased capital expenditures expected in 2025 as the company continues to invest heavily in AI and new hardware, including augmented reality. The AI strategy is seen as a crucial part of their growth moving forward.