Meta beats on revenue at $56.3 vs $55.6 billion consnsus. Boosts capex further
Highlights of the Q1 report from Meta:
- Sees $58-61 billion next quarter vs $59 billion consensus
- Expects capex spend of $125-145B vs $115-135B previously
The capex continues to go up, which is great news if you’re in the chip-making or data-center building business. The release specifically cited data center spending. That’s not so great for Meta shareholders as they’re down 4%, in part due to the runaway spending. There was talk recently of large Meta layoffs as well.
This article was written by Adam Button at investinglive.com.