Meta reported Q2 2026 earnings per share of $6.18, badly missing the $7.14 consensus estimate, a shortfall of approximately 13 percent. Quarterly revenue came in at $60.8 billion, slightly above the $60.2 billion expected, while advertising revenue reached $59.3 billion versus $59.07 billion anticipated. Shares dropped nearly 8 percent after hours, wiping tens of billions of dollars off the company’s market value. Meta raised its full-year 2026 capex guidance to $135-145 billion, with the low end jumping $10 billion in a single quarter, primarily directed toward data centers and AI infrastructure. A partnership with BlackRock plans to build a $14 billion data center in Texas with 1 gigawatt of capacity.
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