On Oct. 21, Meta Platforms (NASDAQ: META) delivered beats on both Q3 revenue and Q4 guidance, while issuing a minimal increase to its 2026 capital expenditure (CapEx) forecast. The company also made highly bullish statements on the outlook for its Muse personal AI agent.
However, GAAP operating margin plunged from 40% in the prior year’s quarter to 20%, and the company posted negative free cash flow.