Meta beats on Q3 revenue, but misses on earnings per share.

Financial Performance - Meta's Q3 earnings per share missed Wall Street's expectation of $672% [1] - The company reported a $15 earnings per share, attributed to a one-time tax charge [1] Capital Expenditure - Meta initially projected 2025 capital expenditures between $66 billion and $72 billion [2] - The updated capital expenditure forecast for 2025 is now between $70 billion and $72 billion [2] - CFO Susan Lee indicated a meaningful increase in capital expenditures for 2026 [3] Strategic Direction - CEO Mark Zuckerberg stated the increased capital expenditure is to proactively address future AI demand by ensuring sufficient GPU capacity [3] - Wall Street does not appear to agree with Meta's increased capital expenditure strategy at this time [3]