Meta Platforms reported third-quarter 2026 revenue of $64.6 billion, marking a 26% year-over-year increase. This result surpassed the Wall Street consensus estimate of $63.37 billion. Advertising revenue also grew by 26%, reaching $63.1 billion.
Following the report, Meta shares rose more than 4% in after-hours trading, reaching approximately $726 from a regular session close of $697.52. The company's AI agent, Muse, reached over 10 million accounts in the US and Canada within six weeks of its launch.
Meta adjusted its 2026 capital expenditure forecast to a range of $135 billion to $145 billion, up from the previous range of $130 billion to $145 billion. These funds are allocated for data centers, chips, and AI infrastructure.
The company reported negative free cash flow of $2.12 billion for the third quarter, compared to $10.63 billion in the same period last year. Meta also plans to issue a new class of non-voting Class C shares as a dividend in January 2027.
For the fourth quarter, Meta provided a revenue guidance range of $73 billion to $76 billion. CEO Mark Zuckerberg stated that AI could eventually become a significant revenue source, potentially exceeding the traditional advertising model.
