Meta Increases Spending Forecast Despite Revenue Beat
Meta raised its 2026 spending forecast to $145 billion for AI growth. Shares fell 5% despite a revenue beat and plans to lead the global advertising market.
META PLATFORMS INC-CLASS A raised its 2026 capital expenditure forecast to between $125 billion and $145 billion on Wednesday. The new range is $10 billion higher than the prior forecast as the company accelerates AI infrastructure investments. Investors sent shares down 5% late evening, signaling concern over the rising costs of Mark Zuckerberg’s AI pivot.
### AI Spending Overshadows Revenue Beat Meta reported first-quarter revenue of $56.31 billion, exceeding the $55.45 billion average estimate compiled by LONDON STOCK EXCHANGE GROUP. Family daily active people rose 4% to 3.56 billion during the period. The company projects second-quarter revenue between $58 billion and $61 billion, which aligns with analyst expectations of $59.5 billion.
