Meta (META) stock fell more than 6% on Thursday despite better-than-expected Q3 revenue, as investors kept pulling back from semiconductor and AI stocks over concerns about data center spending. Record revenue of $64 billion beat the $63.3 billion analysts expected, and GAAP EPS of $3.83 topped the $3.56 estimate, or $7.40 excluding legal charges tied to the teen mental health settlement. Meta raised the lower end of its capex estimate to between $135 billion and $145 billion from $130 billion and $145 billion, and it has $825 billion in other spending commitments. The company will issue non-voting Class C shares to Class A holders, effectively a 2-for-1 stock split, to help Zuckerberg keep voting control if California's Proposition 40 passes; the measure would impose a 5% tax on those with assets over $1 billion. Earlier, a New Mexico judge ordered Meta to pay $25 billion in the state's consumer-harms case.
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Related tickers and likely impact
META
▼ Likely negativeMeta Platforms
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/21/2026 | 698.43 |
| Change that session | +0.60% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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