Meta reported a revenue of $64.60 billion for the third quarter, surpassing the expected $63.37 billion. This represents a 26 percent year-over-year growth. Earnings per share reached $3.83, while the company projects revenue between $73 billion and $76 billion for the fourth quarter.
To fund its extensive AI initiatives, including infrastructure expansion and talent acquisition, Meta is introducing a new class of non-voting shares. Trading for these shares is scheduled to begin in 2027. The company intends to use these shares for future acquisitions and employee compensation.
Capital expenditure for the current year is now projected to be between $135 billion and $145 billion, an increase from the previous forecast of $130 billion to $145 billion. These investments support the development of models like Muse and Muse Wonder.
CEO Mark Zuckerberg has committed to remaining in California for eight years following a new stock-based compensation agreement. This arrangement follows his opposition to the proposed California wealth tax, known as Proposition 40, which could have prompted his relocation.
