US EditionMeta Lifts Spending Forecast, Flags Legal Scrutiny, Shares Fall
Revenue rose 33% to $56.31 billion as Meta lifted its 2026 capital spending plan to $125 billion-$145 billion, citing higher component prices.
- Meta Platforms Inc. reported first-quarter revenue of $56.31 billion on Wednesday, exceeding analyst estimates, while raising its 2026 capital expenditure forecast to $125 billion–$145 billion.
- CEO Mark Zuckerberg is aggressively integrating AI into workflows, doubling down on infrastructure investments while planning to lay off about 8,000 workers to streamline teams.
- Shares fell more than 6% in extended trading after results failed to impress investors compared to stronger figures from Google, despite revenue rising 33% to $56.31 billion.
- Beijing ordered Meta to unwind its $2 billion-plus acquisition of AI startup Manus on Monday, while the company warned regulatory blowback in the U.S. and European Union could "significantly impact our business and financial results."
- Meta faces nearly 2,000 lawsuits from U.S. school districts alleging addictive platform design, with additional trials scheduled this year that could "ultimately result in a material loss.
22 Articles
22 Articles
Meta shares slide as tech giant hikes AI spending forecast, warns of youth social media backlash
Meta Platforms raised its annual capital spending forecast on Wednesday, plowing billions more into artificial intelligence infrastructure even as it grapples with possible losses from a global youth social media backlash.
Meta beats revenue expectations, boosts capital spending forecast for 2026 - The Morning Sun
Instagram and Facebook parent Meta Platforms Inc. posted results Wednesday for the first quarter that exceeded expectations, showing growth in earnings, but the social media giant also increased its forecasted capital expenditures for the year. The company earned $26.77 billion, or $10.44 per share, in the January-March period, up about 61% from $16.64 billion, or $6.43 per share, in the same period a year earlier. Revenue rose 33% from last yea…
Associated Press News
Meta beats revenue expectations, boosts capital spending forecast for 2026
Meta Platforms Inc. reports strong first-quarter results, surpassing expectations with significant earnings growth, but the stock slipped in after-hours trading.
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