Meta Q3 earnings updates: Investors want updates on AI and capex, with the stock up 28% in 2025

Meta CEO Mark Zuckerberg speaks at the 2025 Meta Connect conference in Menlo Park, California, on September 17, 2025.BENJAMIN LEGENDRE/AFP via Getty ImagesIt's earnings day for Meta.The social media giant is one of "hyperscalers" at the heart of Wall Street's AI trade, and updates on its AI ambitions will likely be the highlight of its third-quarter report after the bell on Wednesday.Wall Street expects revenue of $49.5 billion, and investors will be waiting to hear more on its plans for capex and how it will monetize AI. Meta recently invested $14 billion in Scale AI with the goal of reaching AI "superintelligence."Overall, Wall Street analysts remain bullish on the social media company, looking for positive updates on the trajectory of AI, but also ad spend, Instagram Reels, and devices.Meta's earnings will be released shortly after the closing bell, with the analyst call scheduled for 4:30 p.m. ET.Wall Street is predicting Q3 revenue of $49.5 billion and EPS of $6.72THIRD QUARTERRevenue estimate $49.57 billionAdvertising rev. estimate $48.57 billionFamily of Apps revenue estimate $49.02 billionReality Labs revenue estimate $317 millionOther revenue estimate $597 millionOperating income estimate $19.47 billionFamily of Apps operating income estimate $24.77 billionReality Labs operating loss estimate $5.18 billionOperating margin estimate 39.3%EPS estimate $6.72Ad impressions estimate +10.8%Average price per ad estimate +10.5%Average Family service users per day estimate 3.48 billionFOURTH QUARTERRevenue estimate $57.35 billionCapital expenditure estimate $21.13 billionYEARTotal expenses estimate $115.63 billionCapital expenditure estimate $69.29 billionSource: BloombergRead the original article on Business Insider

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