Meta Platforms Stock Falls After $145 Billion AI Spending Plan Overshadows Earnings Beat
Meta shares dropped over 6% in after-hours trading as the company raised its 2026 capital expenditure forecast to $125 billion–$145 billion, outpacing investor expectations. First-quarter revenue climbed 33% to $56.31 billion, while net income rose 61% to $26.77 billion. Costs increased 35% to $33.44 billion. Meta ended March with 77,986 employees.