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Meta shares fall despite revenue beat
Meta Platforms announced its second-quarter financial results, recording profits that fell short of analyst expectations despite surpassing revenue forecasts. Profits declined to $6.18 per share, compared to the anticipated $7.14, while revenue reached $60.8 billion. Despite a reduction in the planned capital expenditure range for 2026 to between $135 billion and $145 billion, the company raised its revenue guidance for the third quarter to between $61 billion and $64 billion. It continues to make substantial investments in expanding data centers, reflecting its commitment to developing a robust infrastructure and advancing artificial intelligence through low-cost models like "Spark 1.1." Following the announcement, Meta's shares dropped by about 8%. The company is also exploring monetizing its infrastructure further by leasing capacity in its data centers, which could boost its market share in the AI sector.
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