According to its earnings report, Meta Platforms stock fell over 10% on Thursday (April 30), erasing approximately $160 billion to $170 billion in market value. The decline came despite the company reporting first-quarter revenue of $56.3 billion and earnings per share of $10.44, both exceeding Wall Street expectations.
The selloff centered on Meta’s updated capital expenditure guidance. The company now expects 2026 capital spending between $125 billion and $145 billion, up from its earlier forecast of $115 billion to $135 billion. Meta cited higher component costs and increased data center expenses for AI infrastructure development as the primary drivers of the increase.
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