Meta reports record revenue, but profit drops significantly due to one-time tax expenses.

Jin10 data reported on October 30, Meta Platforms (META.O) announced its third-quarter results on Wednesday, with revenue reaching an all-time high. However, the company warned that future capital expenditures will continue to rise, causing the stock price to drop about 8% in after-hours trading. The company stated that third-quarter revenue was $51.2 billion, a year-on-year increase of 26%; net profit was $2.7 billion, far below analysts' expectations. The company attributed the significant decline in net profit to a one-time tax expense of $15.93 billion related to pushing Trump’s “Great Beautiful Act.” Meta expects fourth-quarter revenue to be between $56 billion and $59 billion, roughly in line with market expectations. The company also stated that it anticipates total expenditure growth in 2026 to be significantly higher than in 2025, primarily due to rising infrastructure costs, including increased cloud computing expenditures and higher depreciation expenses. Meta has also raised its capital expenditure expectations for 2025, forecasting expenditures between $70 billion and $72 billion, with the previous estimate range being $66 billion to $72 billion.