Meta _2025 年三季度业绩初步点评

29 October 2025 | 4:42PM EDT Equity Research Meta Platforms Inc. (META): Q3 '25 Earnings First Take We expect investors to have a muted to negative initial reaction to META's Q3 '25 earnings report on the back of slightly raised 2025 opex and capex framework but, more importantly, company commentary that opex dollar growth and capex dollars YoY will be notably higher in 2026 (over 2025) than in 2025. Investor conversations in the weeks leading up to this earnings report were most fearful of a pace/cadence o ...