Meta's third-quarter revenue outlook exceeds expectations, expected to support aggressive AI investments

Meta Platforms announced a stronger-than-expected revenue outlook for the third quarter, with its core advertising business continuing to grow robustly, sufficient to support the company's aggressive investments in artificial intelligence. Meta stated in a press release on Wednesday that it expects revenue for the current fiscal quarter to be between $47.5 billion and $50.5 billion. According to data compiled by institutions, the midpoint of this range is higher than the average analyst estimate of $46.2 billion. Meta also raised the lower end of its capital expenditure outlook for fiscal year 2025, increasing investments in talent, infrastructure, data centers, and energy to remain competitive in the rapidly evolving AI race. Meta currently expects total capital expenditures for the year to be between $66 billion and $72 billion, an increase from the previous expectation of $64 billion to $72 billion