Discussion

• @munster_gene Gene Munster on x

  $META says engagement is growing (up 6.9% yy) to 3.5B people because AI is making the content more relevant. Example of AI utility.

• @munster_gene Gene Munster on x

  Meta is beating the law of large numbers.  The high end of their guide implies 33% revenue growth in March, compared to 24% just reported.  If they hit it, it would be the highest growth since Sep of 2021.  Since then the business is about twice as big.  $29B in Sep 21 vs $56B in…

• @munster_gene Gene Munster on x

  $META subscriptions On the call they did not give specifics on future subscriptions. They did say it was a long term revenue opportunity but nothing past that. My take: I was hoping they would say more.

• @pronkdaniel Daniel Pronk on x

  $META is projecting revenue growth to accelerate to 30% next quarter. OCF also just grew 28% in Q4. I think its capex investments are clearly paying off.

• @trishlaostwal @trishlaostwal on x

  Nearly 50 mins into Meta earnings call, advantage+ (Meta's flagship AI media buying tool) was mentioned only once!

• @mikeisaac Rat King on x

  also as expected, hammering the point that AI is helping their recommendations systems which means better targeted ads “Our world class recs systems are already driving meaningful growth...but we think our current systems are primitive compared to what's to come” — MZ

• @munster_gene Gene Munster on x

  $META Revenue up 24%, ahead of the Street at 22%, compared to 26% in September.  The engagement - ad flywheel continues to work.  Driving the ad number, grew DAU's by 6.9% vs. 7.6% in September and 6.4% in June and 5.9% in March, 5% in Dec 24 and 4.8% in Sep 24.  Latest evidence …

• @thetranscript_ @thetranscript_ on x

  $META CEO: “Our business performed very well thanks to record-breaking holiday demand and AI-driven performance gains. We are now seeing a major AI acceleration. I expect 2026 to be a year where this wave accelerates even further on several fronts.”

• @munster_gene Gene Munster on x

  First take on $MSFT, $META and $TSLA earnings. Bottom line: AI trade continues to be in a great place (despite MSFT down 6% in after-hours) All that matters is $META suggests CY26 Capex could be up as much as 85% in over CY25. Previously the Street was expecting a 57% increase.

• @mikeisaac Rat King on x

  MZ setting expectations for the coming model releases... “I expect our first models will be good but more importantly will show the rapid trajectory we're on.” — zuckerberg

• @hernanlopez Hernan Lopez on x

  ...Meta's vertical video ecosystem now monetizes time spent as effectively as Netflix...In the US, Meta actually enjoys higher Revenue Per Thousand Hours according to Owl & Co estimates.  The numbers: $201B in revenue, up 22% YoY. 98% came from advs on its family of apps, driven …

• @munster_gene Gene Munster on x

  Zuck kicks off the call starting talking about wearables (surprises me) and this will be the year where AI changes the way we work. $META

• @valuesense_io @valuesense_io on x

  Meta smashed earnings! $META Earnings Review: - EPS $8.88 VS. $8.02 Y/Y - REVENUE $59.89B, EST. $58.42B - SEES 1Q REVENUE $53.5B TO $56.5B, EST. $51.27B [image]

• @jackclarksf Jack Clark on x

  @MikeIsaac Facebook published a cool paper over Christmas on how they are using AI to optimize kernels and use this to improve 100s of models which serve billions of people a day. So I think AI is also just delivering lots of broad efficiency gains for them as well https://import…

• @mikeisaac Rat King on x

  okay unless Mark or Susan say something insane on the rest of this call, my take away is: wall street says “do whatever you want as long as your core biz is growing, which it looks like it is”

• @richlightshed @richlightshed on x

  $META revenue growth accelerating into 2026 - company guide suggests they could hit 30% growth excluding currency tailwinds in Q1 2026 Would be first time Meta hit 30%+ revenue growth since Q3 2021 🤯🤯🤯 Reminder revenue basis is now over $200 billion annually [image]

• @hedgeyecomm @hedgeyecomm on x

  $META Q1 guide 26.4 - 33.5%... Even with 4% currency tailwind... Woah.

• @zastocks @zastocks on x

  Imagine if there was a company positioned to win big in AI who had 3.6 billion daily active users, almost $250B in yearly revenue growing 25%, almost $50B in free cash flow, and a 41 year old Mount Rushmore founder CEO. Oh that's $META.

• @hedgeyecomm @hedgeyecomm on x

  $META Mark Zuckerberg... “The facts that agents are really starting to work now is quite profound...” Yup!

• @neilksethi Neil Sethi on x

  Gain is also despite the Reality Labs unit recording an operating loss of $6.02 billion on $955 million in sales.  Analysts were expecting Reality Labs to record an operating loss of $5.67 billion on $940.8 million in fourth-quarter revenue.  Reality Labs now has over $75 billion…

• @munster_gene Gene Munster on x

  Final thought on $META. The topic of adding subscriptions to all of the apps has been rumored for years and appears to be gaining momentum. This could be a swing factor tonight.

• @qcapital2020 @qcapital2020 on x

  $META friendly reminder that ex Reality Labs , the Ad business is a 60% operating margin biz with a $200B top line lol [image]

• @mikeisaac Rat King on x

  analyst: “hey how is your AI Lab goin, please tell me more granular detail” MZ: “No ❤️”

• @supbagholder @supbagholder on x

  $META came in at the high end of estimates, grew 24% yoy topline and remains the cheapest mag7 Very happy

• @amitisinvesting Amit on x

  $META GUIDING $115B-$135B OF CAPEX AHEAD OF $110B ESTIMATES OH MY GOODNESS

• @ericjhonsa Eric Jhonsa on x

  [...] It was notable that (on top of a big capex guide) Meta says it's still compute-constrained and will likely remain so for much of 2026.  I've felt for a while that Meta faces bigger AI capex ROI questions than the other tech giants, given its lack of an IaaS business (for no…

• @mikeisaac Rat King on x

  okay my guess is the stock is not getting battered b/c investors like this slide ARPU rocketed up over one quarter. AI ad targeting etc etc [image]

• @firstadopter Tae Kim on x

  Meta raised 2026 capex guide to $115-135 billion versus $111 billion Wall Street estimate. Obviously, this is bullish for Nvidia.

• @thetranscript_ @thetranscript_ on x

  $META CFO: “We anticipate 2026 capex, including principal payments on finance leases, to be in the range of $115-135B with Y/Y growth driven by increased investment to support our Meta Superintelligence Labs efforts and core business” [image]

• @hedgeyecomm @hedgeyecomm on x

  Higher capex and opex... doesn't matter given the revenue upside!

• @hedgeyecomm @hedgeyecomm on x

  I'm sorry but Capex and Opex guide should be an after thought on this type of revenue growth... $META They guided total expenses $12-19B higher than consensus... And quick math on implied 2026 assuming 32% Q1 revenue YoY... That is $17B of revenue higher than consensus...

• @supbagholder @supbagholder on x

  $META +6% as investors are realizing AI capex is a good thing when it increases topline growth. [image]

• @zerohedge @zerohedge on x

  At the high end of its capex forecast ($135BN), META free cash flow in 2026 will be $0 [image]

• @mikeisaac Rat King on x

  meta expects to nearly *double* its capital expenditures spending in 2026 — from 72billion in 2025 to an estimated $115 to $135 billion in 2026 AI!

• @kakashiii111 @kakashiii111 on x

  Can someone explain to me how Meta is going to finance total expenses of $162-169B, of which $115-135B is CapEx, when Meta's income has been flat YoY and is expected to remain the same in 2026? How much debt, senior notes, SPVs, and so on will Meta need for that? [image]

• @aleabitoreddit Serenity on x

  Btw this $META call at $625 was only 2 weeks ago. 🎯 Hope it goes up even more over the next few weeks, capex spend was overblown since they're printing money and growing at astounding rates. [image]

• @amitisinvesting Amit on x

  $META...Mark Zuckerberg: “I'm looking forward to advancing personal superintelligence for people around the world in 2026.”

• @hedgeyecomm @hedgeyecomm on x

  Zuck has something big up his sleeve... wonder if it is M&A related.... $META I get the competitive landscape is intense and they want to be careful about what they say on public earnings calls... and there is the policy concerns as well... But this call hit differently...

• @hedgeyecomm @hedgeyecomm on x

  I know people will think I'm crazy... but I think the real GOAT move would be to acquire Anthropic before it goes public.

• @benitoz Ben Pouladian on x

  Meta just guided $115-135B in 2026 CapEx nearly 2x 2025 CFO: “Doubled GPUs to train Gem model.  Sequence learning drove 3.5% FB ad lift.”  AI spend is WORKING.  Hyperscalers keep buying $NVDA demand thesis keeps getting stronger $meta

• @conorsen Conor Sen on x

  Over the past 21 months $META's expected 12m capex has increased from $35 billion to $125 billion.

• @bucketshopcap @bucketshopcap on x

  You still have doofus accounts on here throwing a fit b/c META is InCINeRaTInG ProFiTS. Yeah, but at least they are showing eye-popping topline growth...AND at their scale, which is literally the entire point of investing in tech. Can't say the same for too many businesses!

• @_josenajarro Jose Najarro Stocks on x

  $META $NVDA CRAZY CAPEX!! We anticipate 2026 capital expenditures, including principal payments on finance leases, to be in the range of $115-135 billion, with year-over-year growth driven by increased investment to support our Meta Superintelligence Labs efforts and core [image]

• @tanayj Tanay Jaipuria on x

  [...] Huge amount of investment especially given Meta doesn't have a cloud business unlike the others spending in that range

• @rihardjarc Rihard Jarc on x

  So Zuck finally put out the CapEx numbers now we can move on. $META sees 2026 CapEx $115B-$135B (estimates were $110B).

• @conorsen Conor Sen on bluesky

  Guiding capex $15bn above estimates when they were estimated to do $17bn in FCF in 2026 means they're expecting to run pretty close to FCF breakeven.

• @thetranscript_ @thetranscript_ on x

  $META CEO: Reality Labs losses expected to peak this year: “I expect Reality Labs losses this year to be similar to last year, and this will likely be the peak as we start to gradually reduce our losses going forward while continuing to execute on our vision as we plan.” [image]

• @gwanatu Nicholas Sutrich on x

  I wonder what these absolute cretins at places like CNBC will do when they find out Reality Labs spending isn't going down at all in 2026 despite substantial cuts to VR spending? Oh, that's right, they never cared about annoying things like facts, anyway. [image]

• @hedgeyecomm @hedgeyecomm on x

  It did kind of sound like a little bit of Zuck's soul died when he said peak reality lab losses $META

• r/technology r on reddit

  Meta's Reality Labs posts $6.02 billion loss in fourth quarter / Reality Labs now has over $75 billion in total operating losses since late 2020

• r/business r on reddit

  Meta's Reality Labs unit posts $6.02 billion loss on $955 million in sales in 2025 fourth-quarter revenue

• r/technology r on reddit

  Meta burned $19 billion on VR last year, and 2026 won't be any bette