Meta Platforms (META) reported a sharp earnings decline for the third quarter, sending its shares down nearly 10% in after-hours trading. The company posted revenue of $51.24 billion, above expectations of $49.41 billion, and operating income of $20.54 billion, up 18% year over year.
However, earnings per share fell to $1.05 from $6.03 a year earlier, weighed by a $15.9 billion one-time charge. Without the charge, Meta said EPS would have reached $7.25, comfortably beating estimates.
The company guided Q4 revenue between $56 billion and $59 billion, signaling resilient ad demand and steady platform engagement. Daily active people (DAP) grew 8% year over year to 3.54 billion, while capital expenditures for 2025 are projected at $70–$72 billion to accelerate AI and data center investments. Executives reiterated that expanding AI capabilities remains Meta’s top strategic priority, even as rising infrastructure costs pressure short-term profitability.