Meta said quarterly revenue grew 26 percent to $64.6 billion. It narrowed its 2026 capital-spending outlook to $135 billion–$145 billion, guided fourth-quarter revenue to $73 billion–$76 billion, and will issue one nonvoting Class C share for each existing share in January.
The spending number is the AI story
The Class C share does not vote. Meta’s filing ties the new class to Zuckerberg’s ability to sell stock, including for a possible California tax bill, without giving up voting control. He has also agreed to stay in California for eight years under that arrangement.
A narrowed capex range is still a huge range. $135 billion to $145 billion is the band for 2026, not a receipt for one data center.
A shareholder who needs the revenue, the spend band, and the January share issuance in one place.