NEWS
4/29/2026AI summary
Meta Q1 Earnings Beat Expectations but Stock Drops on Higher AI Spending
Meta Platforms reported Q1 2026 earnings of $10.44 per share on $56.31B revenue, beating analyst estimates of $6.67 per share on $55.6B. Profit surged 61% YoY, but the company raised its 2026 capital expenditure guidance to $125-145B due to higher component pricing and data center costs. Shares fell over 6% in extended trading as investors concerns grew over increased AI infrastructure spending.
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ABC News1 min read