Meta Q1 Revenue Beats at $56.31B, Shares Fall

Meta Platforms reported better-than-expected first-quarter 2026 results on April 29, beating Wall Street forecasts with revenue of $56.31 billion, surpassing estimates of around $55.4 billion, and adjusted earnings per share of $7.31, above the anticipated $6.79. GAAP earnings per share reached $10.44, topping consensus expectations of $6.67. Despite the strong performance, the company's shares fell more than 9 percent on Thursday, closing around $608, amid investor concerns over elevated capital spending plans.

The earnings reflected 33 percent year-over-year revenue growth, driven by robust advertising momentum and AI-enhanced tools. Family daily active users stood at 3.56 billion, up 4 percent from the prior year but down sequentially for the first time since mid-2019. Officials attributed the quarter-over-quarter decline to internet disruptions in Iran and restricted WhatsApp access in Russia due to geopolitical tensions.

Meta also raised its full-year capital expenditure guidance to between $125 billion and $145 billion, up from a prior range of $115 billion to $135 billion. The increase supports expansion in AI infrastructure, including investments in data centers, AMD...