Meta's Q3 profits dip nearly 50% after $18 billion legal settlement even as company beats revenue estimates
Meta beat revenue estimates, but its profit fell after an $18 billion settlement with nearly all US states.
Meta's profits dropped nearly 50% in Q3 2026 following a $18 billion legal settlement in nearly all US states. The social media giant, which included Facebook and Instagram, reported $9.86 billion in profits for the quarter, falling short of investors' expectations. The company faced significant penalties, including a $25 billion fine from a New Mexico judge, based on a jury finding that Meta had misled users in the Cambridge Analytica scandal.
This case, among others, contributed to the decline in profits. Despite the financial setbacks, Meta increased its capital expenditures by $35 billion in Q3, spending $35 billion on AI advancements. This spending figure was lower than investors anticipated, who had projected $41 billion. The company had previously raised its annual spending estimate to $145 billion in July, up from $130 billion earlier.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Meta beats on revenue and splits its stock with nonvoting shares to raise capital siliconangle.com
- Meta beats revenue expectations but legal penalties hit profit freemalaysiatoday.com
