Meta Platforms reported Q2 revenue of $60.8bn, up 28% YoY, a record, while net income was $15.8bn, below analyst expectations. The company raised the lower end of its full-year capital expenditure guidance to $130bn from $125bn, leaving the $145bn upper bound unchanged. An updated AI spending plan heightened investor concern over infrastructure build costs and the stock fell more than 6% in after-hours trading. Meta has spent tens of billions on chips, data centers and AI talent and recently par

Meta Platforms reported Q2 revenue of $60.8bn, up 28% YoY, a record, while net income was $15.8bn, below analyst expectations. The company raised the lower end of its full-year capital expenditure guidance to $130bn from $125bn, leaving the $145bn upper bound unchanged. An updated AI spending plan heightened investor concern over infrastructure build costs and the stock fell more than 6% in after-hours trading. Meta has spent tens of billions on chips, data centers and AI talent and recently partnered with BlackRock to finance at least $12bn for a Texas data center. Q2 free cash flow was $784m.