$META | Meta Platforms Q3 26 Earnings: • Revenue: $63.06B (est $61.85B) • EPS: $3.83 (est $3.57) • Sees Q4 Revenue: $73B To $76B (est $73.57B) • Sees FY CapEx: $135B To $145B, Saw $130B To $145B • Establishes New Non-Voting Class C Common Stock

Meta Platforms reported third-quarter revenue of $63.06 billion, ahead of the $61.85 billion consensus, and EPS of $3.83 versus the $3.57 estimate, while guiding fourth-quarter revenue to $73 billion to $76 billion against a $73.57 billion forecast. The company also narrowed its full-year capital expenditure outlook to $135 billion to $145 billion, down from the prior $130 billion to $145 billion range, and announced a new non-voting share class. The main transmission channel is earnings-driven equity repricing: a top-line and EPS beat with an upper-half revenue guide typically lifts expectations for advertising durability, while the capex range sets the trade-off between margin pressure and AI infrastructure investment that investors must weigh. Meta shares are the most directly exposed, with secondary read-through to digital advertising peers and AI-infrastructure suppliers, since capex commitments feed expectations for semiconductor and data-center demand. Traders will watch management's commentary on expense growth and capex phasing on the earnings call, along with subsequent advertising-pricing and engagement data from peers in the coming we

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