Elevated capital expenditures and a $10 billion legal settlement charge are pressuring Meta’s near-term earnings metrics ahead of its October 21 report. Consensus estimates call for revenue near $63.3–63.4 billion—within company guidance—but adjusted EPS figures have declined to the $5.9–6.7 range, reflecting the charge and sharply higher 2026 capex of $130–145 billion that is compressing operating margins and free cash flow. Recent downward revisions to EPS forecasts and pre-earnings share weakness signal trader caution that advertising strength may not fully offset these headwinds. The print will test whether AI-driven engagement gains can support monetization without further margin erosion.