After the US stock market on the 29th local time, Meta revealed its financial report for the second quarter of 2026. Although the quarter's revenue slightly exceeded expectations, net profit fell 14%, compounded by huge AI capital expenses that squeezed cash flow, and the company's stock price fell more than 8% after the market. In the financial report, Meta adjusted the annual capital expenditure forecast range to 130 billion to 145 billion US dollars, compared to the previous forecast of 125 billion to 145 billion US dollars. The sharp rise in AI capital expenditure hurt the company's profitability and seriously squeezed cash flow. Meta's free cash flow in the second quarter fell to its lowest level in nearly four years, leaving only 784 million US dollars. Faced with market concerns, Meta CEO Zuckerberg said in an earnings conference call on the 29th that Meta's current large-scale investment is to seize the AI infrastructure window, and the returns will gradually be realized through multiple channels such as upgrading core advertising services, corporate services, and computing power leasing. Referring to the possibility of “selling computing power,” Zuckerberg said that Meta has received a large number of offers on computing power, and the price is far higher than the company's procurement costs. However, Zuckerberg said that simply selling computing power and making short-term profits is foolish; Meta's computing power will be used “quite a bit” to drive its own models and products.

After the US stock market on the 29th local time, Meta revealed its financial report for the second quarter of 2026. Although the quarter's revenue slightly exceeded expectations, net profit fell 14%, compounded by huge AI capital expenses that squeezed cash flow, and the company's stock price fell more than 8% after the market. In the financial report, Meta adjusted the annual capital expenditure forecast range to 130 billion to 145 billion US dollars, compared to the previous forecast of 125 billion to 145 billion US dollars. The sharp rise in AI capital expenditure harmed the company's profitability and seriously squeezed cash flow. Meta's free cash flow in the second quarter fell to its lowest level in nearly four years, leaving only 784 million US dollars. Faced with market concerns, Meta CEO Zuckerberg said in an earnings conference call on the 29th that Meta's current large-scale investment is to seize the AI infrastructure window, and the returns will gradually be realized through multiple channels such as upgrading core advertising services, corporate services, and computing power leasing. Referring to the possibility of “selling computing power,” Zuckerberg said that Meta has received a large number of offers on computing power, and the price is far higher than the company's procurement costs. However, Zuckerberg said that simply selling computing power and making short-term profits is foolish; Meta's computing power will be used “quite a bit” to drive its own models and products.