Meta dips after earnings miss as capex plans weigh on sentiment

Meta Platforms stock slumped up to about 9% after hours following a second-quarter report that missed on earnings per share ($6.18 vs. $7.14 expected) but beat on revenue ($60.8 billion). Advertising revenue came in at $59.3 billion vs. $59.07 billion expected. The company narrowed and raised its 2026 capital expenditure guidance to $135–$145 billion, signaling continued heavy data-center spending. Analysts described the results as barely passable, citing higher capex and only modest cash-flow improvement despite the top-line beat and a revenue outlook that still fell short of some forecasts.