Overview
- Shares hover in the low-to-mid $600s after an October post-earnings slide driven by concern over rising AI outlays.
- Q3 revenue rose 26% to about $51.24 billion with an earnings beat as ad impressions increased 14% and average prices climbed 10%.
- Management set 2025 capital spending at $70–72 billion, with multiple reports pointing to more than $100 billion in 2026, and free cash flow fell to roughly $1.89 billion.
- Meta reports three AI transformers now power recommendations and ads across its platforms, generating over $60 billion in annualized revenue and lifting engagement.
- Citizens reaffirmed a Market Outperform rating and a $900 target after Meta introduced SAM 3, a promptable vision model that tracks visual concepts and speeds annotation by up to 5x for certain prompts.