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Fortune
Fortune
Kali Hays

Meta tops revenue targets but warns of 'significant' cap ex spending next year

Mark Zuckerberg demonstrating Orion VR glasses at Meta Connect in 2024

Meta beat Wall Street's revenue and profit targets during its third quarter and forecast a strong finish to the year in the holiday quarter. But the company's plans to continue spending heavily on AI infrastructure and an increase in headcount may have tempered investor enthusiasm with the results.

Shares of the Facebook parent fell almost 3% in after hours trading immediately after revealing its third quarter results.

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