Meta Sacrifices Near-Term Cash Flow to Outspend Rivals on AI Build-Out

Core Insights - The main narrative from Meta's quarterly report is not centered on the revenue exceeding expectations or the significant one-time tax charge that adversely affected net income [1] Financial Performance - Meta reported a revenue beat, indicating stronger-than-expected financial performance [1] - A one-time tax charge significantly impacted reported net income, overshadowing other financial metrics [1]