Meta earnings are in. Investors are weighing a revenue beat against higher-than-expected capital spending.
The company delivered $59.89 billion in revenue for the fourth quarter of last year, compared to estimates of $58.41 billion. Earnings per share came in at $8.88 versus expectations for $8.19.
Capex, though, was the big number investors were eyeing heading into the report, and Meta said that it plans to spend a lot more than Wall Street was expecting. It guided 2026 capex at $115 billion to $135 billion, compared to estimates for $110.62 billion.
The stock was up about 3% in after-hours trading following the results. Shares closed slightly lower in Wednesday’s session.
Scroll on for the full play-by-play from Meta’s earnings call.
