Meta Earnings Miss

Meta shares drop as investors worry over profits, legal costs, and AI spending.

•Mostly Center

Zuckerberg lays out Meta's AI capacity dilemma: What to sell vs. what to keep

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Summary

A neutral summary of the key facts most outlets agree on, drawn from reporting across the political spectrum.

Meta shares fell about 10% in after-hours trading after the company missed second-quarter profit expectations and raised the lower end of its 2026 capital spending outlook tied to artificial intelligence. Revenue rose 28% from a year earlier to $60.80 billion, above the $60.17 billion analysts expected, while earnings per share were $6.18 versus estimates of $7.22. Free cash flow fell 91%, and Meta forecast third-quarter revenue of $61 billion to $64 billion while planning $130 billion to $145 billion in AI-related investment this year.

The Coverage

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Some commentary

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Coverage Angles

Uncertain AI payoffMostly Center

Meta’s AI ambitions are not convincing investors because the company has yet to show a clear financial return from its spending. Zuckerberg’s efforts to sell the vision have not offset worries about missed expectations, falling shares, and uncertain future payoffs.