Meta stock tumbles despite solid Q3 earnings beat

Meta, by any definition, had a strong third-quarter earnings report Wednesday. Earnings per share blew past analyst expectations, coming in at $7.25 per share versus an estimated $6.69. Revenues, meanwhile, topped $50 billion for the first time ever. Despite that, though, the company's stock is poised to drop by between 8% and 9% when it begins trading Thursday morning. That's likely due to its announcement that capital expenditures more than doubled from the same period last year, hitting $19.4 billion — ...