Meta forecasts lower revenue and drops

Meta has announced that it expects its third-quarter 2026 revenues to exceed expectations, ranging between $61 billion and $64 billion, despite initial forecasts of around $63 billion. This outlook caused its stock to drop more than 6 percent after the U.S. market closed. Nonetheless, the company posted robust growth in advertising revenues, which increased by 28 percent in the second quarter to reach $60.8 billion. However, net profits declined by 14 percent year-over-year to approximately $15.8 billion, due to one-time items such as legal fees and severance costs. Meta continues to make substantial investments in artificial intelligence, raising its minimum spending target to $130 billion for 2026, amid ongoing competition with major firms like OpenAI and Google.

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