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Meta Platforms Q3 Highlights
Meta Platforms (NASDAQ: META) reported a 26% year-over-year revenue increase in Q3 2023, reaching $51.2 billion, driven by higher ad prices and user engagement. Daily active users across its apps surpassed 3.5 billion, with ad impressions rising 14% and average ad prices increasing by 10%.
Future Capital Expenditures
The company revised its 2025 capital expenditures outlook to between $70 billion and $72 billion, up from a previous estimate of $66 billion. CFO Susan Li indicated that capital expenditures could exceed $115 billion in 2026, with total expenses expected to rise to around $150 billion or more that year.
Strategic Investment in AI
CEO Mark Zuckerberg emphasized a strategic focus on building AI infrastructure, stating that aggressive investment now will position the company for future gains. Despite a 100% increase in capital expenditures in Q3, Meta generated nearly $11 billion in free cash flow and maintains a net cash position of approximately $16 billion.
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