Meta stock sinks after tax hit weighs on earnings, company touts 'notably larger' AI investments in year ahead

Meta (META) on Wednesday reported third quarter earnings beating expectations on revenue but falling short on earnings per share due to a one-time, tax-related charge and increased capital expenditures this year and in 2026 due to its AI buildout. Meta stock plummeted more than 7% in premarket trading on Thursday following the news. The social media giant has been on a massive spending spree in recent months, laying out billions to hire talent and build the data centers necessary to meet its demand for A ...