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Meta shares slide after second-quarter results miss forecasts
Meta reported $6.18 in earnings per share and revenue of $60.8 billion, and it lifted full-year expense guidance and projected higher 2026 capital expenditures.
Meta’s stock fell nearly 8% after the company reported second-quarter results that missed Wall Street expectations, despite a broader push from CEO Mark Zuckerberg to frame Meta’s AI work in optimistic terms. According to Bloomberg consensus estimates cited by The Guardian Business, Meta posted earnings per share of $6.18, below the $7.14 forecast. Revenue came in at $60.8 billion, which beat the $60.23 billion prediction.
The Guardian Business also reported that Meta raised the lower end of its expected expenses and spending for the year. The company said it recorded $2.4 billion in charges related to legal proceedings in the quarter, moving total expenses into a range of $165 billion to $169 billion, up from $162 billion to $169 billion.
Meta also increased its outlook for capital spending. It now expects 2026 capital expenditures to range from $130 billion to $145 billion, higher than the prior $125 billion to $145 billion range, and said a portion of its spending is earmarked for AI investments, The Guardian Business noted.