Meta Platforms reported record second-quarter revenue of $60.8 billion, up 28% from a year earlier, but the stock fell more than 6.8% in after-hours trading after investors focused on rising AI-related spending and softer-than-expected profit. Net income came in at $15.8 billion, below analyst expectations, according to Odaily. The company also raised the lower end of its full-year capital expenditure outlook to $130 billion from $125 billion, while keeping the upper end unchanged at $145 billion. Meta said free cash flow for the quarter was $784 million. The latest spending push reflects the company’s effort to speed up its AI buildout, with outlays already reaching tens of billions of dollars for chips, data center construction, and top talent recruitment. Meta also recently worked with BlackRock to arrange at least $12 billion in financing for a data center project in Texas.
Meta Platforms (META.O) posted record revenue for the second quarter, but its shares fell more than 6.8% in after-hours trading as heavier AI infrastructure spending sharpened concerns about cost pressure.
According to Odaily, Meta reported second-quarter revenue of $60.8 billion, up 28% year over year. Net income was $15.8 billion, below analyst expectations. Free cash flow for the quarter stood at $784 million.
Capex floor lifted for the full year
Meta slightly raised the lower end of its annual capital expenditure guidance to $130 billion from $125 billion. The upper end was left unchanged at $145 billion.
AI buildout remains a major spending focus
As it pushes to strengthen its position in AI, Meta has spent tens of billions of dollars on chip purchases, data center construction, and recruiting top talent. The company also recently worked with BlackRock to secure at least $12 billion in financing for a data center project in Texas.
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