Meta Q4 2025 Earnings Beat as Zuckerberg Announces Up to $135 Billion in 2026 AI Capex

Summary

Meta reported Q4 2025 earnings on January 28, 2026, beating Wall Street estimates with revenue of $59.89 billion (vs. $58.41 billion consensus) and earnings per share of $8.88 (vs. $8.19 expected). The headline for the AI landscape, however, was the 2026 capital expenditure guidance: Meta plans to spend between $115 billion and $135 billion on capex in 2026, nearly doubling its $72.2 billion in 2025 capex. The majority of the increase is driven by AI infrastructure investment — data centers, com