Meta Beats Third-Quarter Estimates, Raises Revenue Guidance, and Announces Stock Split

Meta Platforms reported third-quarter earnings per share of $3.83 on record quarterly revenue of $64.6 billion, a 26% year-over-year increase, topping consensus estimates. The company raised its current-quarter revenue guidance to between $73 billion and $76 billion, projected AI infrastructure capital expenditures of $135 billion to $145 billion, and announced a 2-for-1 stock split. Shares of Meta gained 3.9% in extended trading following the release. Earlier in the day, U.S. equity futures traded higher as markets anticipated Meta's report as the first major Big Tech hyperscaler release of the season.