Meta Platforms reported second-quarter earnings that missed estimates with earnings per share of $6.18 versus the $7.22 expected, sending the stock down 9% in premarket trading. The company raised its capital expenditure guidance for AI to between $130 billion and $145 billion for the year while its free cash flow collapsed to $784 million from $8.55 billion a year ago. Analysts broadly lowered price targets but none downgraded the stock, citing strong underlying business fundamentals despite concerns over the timing of AI monetization.
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