Meta Platforms (META) shares fell nearly 8% on October 24, 2026, after the company reported mixed second-quarter results. While earnings of $6.18 per share missed Wall Street’s expectations by 13%, revenues grew 28% year-over-year, surpassing estimates by 1%. The decline in share price is attributed to a 91% drop in free cash flow due to heavy investments in artificial intelligence and continued losses in its Reality Labs segment, which saw its operating loss widen to $4.62 billion.
In Q2, Meta served 14% more ad impressions and saw a 12% increase in the average price per ad compared to the previous year. For 2026, the company has updated its total expenditure guidance to a range of $165-$169 billion, accounting for a $2.4 billion legal charge. Year-to-date, META shares have decreased by 18.4%.
Investors looking for exposure to Meta may consider exchange-traded funds (ETFs) like the Vanguard Communication Services ETF (VOX), which allocates 20.31% to Meta, or the Communication Services Select Sector SPDR ETF (XLC), where Meta comprises 17.22% of assets.
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