Meta's AI Spending Crushes Cash Flow as Revenue Beat Fails to Impress Wall Street
Meta Platforms (META) delivered a second-quarter earnings report that showcased record revenue but also exposed the staggering cost of its artificial intelligence ambitions. Despite a 28% surge in sales to $60.8 billion, the company's stock plunged approximately 10% in after-hours trading as investors focused on a 13% earnings per share miss, dwindling free cash flow to under $1 billion, and a disappointing revenue outlook for the current quarter. The sell-off, which continued into Thursday's se
