Shares of Meta Platforms fell sharply in after-hours trading on Wednesday after the social media giant reported strong third-quarter results but warned that its expenses would rise substantially in 2026 due to heavy spending on artificial intelligence and infrastructure.
The Menlo Park-based company posted revenue of $51.42 billion for the July to September quarter, a 26 percent increase from the same period last year. Growth was driven by strong advertising demand and steady user gains across Facebook, Instagram, WhatsApp, Messenger and Threads. Adjusted earnings stood at $7.25 per share, beating Wall Street expectations of about $6.72.
