Meta posts a Q2 revenue beat but EPS miss shakes investors as data-center bets rise
Meta reported Q2 EPS of $6.18 on $60.8 billion in revenue (missed expectations of $7.14 EPS on $60.2B), and guided Q3 revenue to about $63.1 billion mid-point. Advertising revenue came in at $59.3 billion, just above estimates. The company raised its 2026 capital expenditure guidance to about $135–$145 billion and signaled spending of over $145 billion this year mainly for data-center expansion. In parallel, Meta and BlackRock unveiled a $14 billion, 1 GW Texas data-center project (BlackRock 80%, Meta 20%), with potential capacity leasing as a monetization path. Meta also introduced Muse Image, its proprietary image-generation model, and launched Spark 1.1 with aggressive pricing ($1.25 per million input tokens, $4.25 per million output tokens) to compete with OpenAI and Anthropic. The stock slid roughly 8% after the results.
