Meta's Q2 Revenue Reaches Record High, AI Costs Trigger Share Price Decline

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Meta Platforms (META.O) reported record Q2 revenue of $60.8 billion, a 28% year-over-year increase, but its AI spending plans triggered a 6% post-market share decline. The company raised its capital expenditure guidance to $130 billion and reported net income of $15.8 billion, below expectations. With increased spending on data centers and chips, altcoins to watch may experience shifts as crypto price movements follow macro trends. Q2 free cash flow amounted to $784 million.
ME AI News: Meta Platforms (META.O) reported record revenue for its second fiscal quarter, but updates to its AI spending plans sparked investor concerns over infrastructure construction costs. Meta slightly raised the lower end of its annual capital expenditure guidance from $125 billion to $130 billion, while keeping the upper limit unchanged at $145 billion. Second-quarter revenue reached $60.8 billion, a 28% year-over-year increase, but net profit of $15.8 billion fell below analyst expectations. As a result, Meta’s stock dropped more than 6% in after-hours trading. To keep pace in the AI race, Meta has invested tens of billions of dollars in chip procurement, data center construction, and recruiting top talent; recently, it partnered with BlackRock to raise at least $12 billion to build a data center in Texas. Meta’s free cash flow for the second quarter was $784 million. (Source: ODAILY)
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