Meta Platforms on Wednesday forecasted third-quarter revenue well above Wall Street estimates, boosted by artificial intelligence strengthening its core advertising business. The announcement sent its shares up 10% in extended trading.
The company also raised the lower end of its capital expenditure forecast for the year.
Despite highlighting rising infrastructure and employee compensation costs, which Meta expects will cause its year-over-year expense growth in 2026 to exceed that of 2025, investors remained unfazed.
For the third quarter, Meta projected total revenue between $47.5 billion and $50.5 billion.
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