$Meta Platforms(META.US) just posted NEGATIVE free cash flow for the first time since 2012, the year it went public
Q3 free cash flow came in at -$2.12 billion, down from +$10.63 billion a year agoCapex hit a record $34.91 billion in one quarter, up 80% year over year, while cash from operations grew just 9% to $32.79 billionThe ad machine is still humming. Revenue rose 26% to $64.60 billion, beating estimates, and Q4 guidance of $73 to $76 billion came in above Wall Street$Meta Platforms(META.US) also confirmed the new non-voting Class C stock tonight, saying the scale of AI investment required is "significant"It narrowed 2026 capex to $135 to $145 billion and says it will keep investing aggressively in 2027The most profitable ad business on earth now spends every dollar it makes and then some on data centers. Buybacks are gone, a new share class is coming, and the AI bet is no longer funded by spare cashSource: StockMarket.News
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