Meta Stock Falls 7% After Record Q3 Revenue as AI Spending Fears Return

TLDR Meta Platforms (META) stock closed Thursday at $648.85, down 7%, a day after reporting record Q3 revenue of $64.6 billion. Free cash flow turned negative at $2.12 billion, the first such quarter as a public company. Meta raised the low end of its 2026 capex range to $135 billion to $145 billion, and spending commitments reached $825 billion. Meta’s five-year credit default swap hit a record 119.3 basis points. Meta will issue non-voting Class C stock to Class A holders, working like a 2-for-1 split. Meta Platforms (META) stock closed Thursday at $648.85, down $48.67 or 7%.

Source: CoinCentral