Meta Platforms Q4 Beat Overshadowed by $115–135B Capex and $5B Cash Flow

METAMETA

Meta Platforms beat Q4 expectations with $8.88 EPS and $59.89 billion revenue but shares fell 1%, extending a five-day loss to 9.1% after guiding 2026 expenses of $162–169 billion and $115–135 billion in capex, leaving free cash flow around $5 billion. JPMorgan maintained an Overweight rating with an $825 target.

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