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Meta shares slide after Q2 EPS miss and weaker Q3 revenue outlook
Meta reported Q2 revenue of $60.8 billion, missed EPS by falling to $6.18 versus $7.14 expected, and guided Q3 revenue to $61 billion to $64 billion.
Meta reported second-quarter results after the bell on Wednesday, with earnings per share coming in below expectations while revenue beat forecasts, according to Yahoo Finance.
The company posted Q2 EPS of $6.18 on revenue of $60.8 billion, compared with analyst expectations of $7.14 for EPS and $60.2 billion for revenue. Meta also missed the midpoint of its Q3 revenue outlook, though it narrowed its planned 2026 capital expenditure range.
For Q3, Meta expects revenue between $61.0 billion and $64.0 billion, with Wall Street looking for a midpoint of $63.1 billion. Meta said its Q2 advertising revenue was $59.3 billion versus $59.1 billion expected, and it attributed the EPS miss largely to $2.4 billion in legal contingencies and a $1.2 billion severance charge.
Meta also raised the bottom end of its capital expenditure outlook for 2026 to a range of $135 billion to $145 billion from $125 billion to $145 billion. Separately, Meta and BlackRock said they have agreed to build a $14 billion, 1-gigawatt data center in Texas, with BlackRock holding an 80% stake and Meta the remaining 20%.