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Meta Q3 earnings to test Wall Street's stomach for AI spending
Yahoo Finance • • business
Key Points:
- Meta is set to report its Q3 earnings after market close on Wednesday, with expected earnings per share of $3.56 and revenue of $63.3 billion, up significantly from last year.
- Capital expenditures are projected to surge 117% year-over-year to $41 billion, with the Reality Labs segment anticipated to record a $5.2 billion operating loss.
- Despite a 3% decline in Meta's stock over the past year amid investor concerns about monetizing heavy spending, the company has achieved notable AI milestones, including Muse AI agent reaching 10 million downloads in 40 days.
- Meta recently launched advanced AI models, Muse Wonder and Muse Wonder Full, positioning itself competitively against Google, OpenAI, and Anthropic in the AI space.
- CEO Mark Zuckerberg unveiled new hardware at Meta Connect, including updated Ray-Ban Meta glasses and upcoming $1,299 Meta VR Glasses, signaling continued investment in augmented and virtual reality technologies.
