Meta Platforms reported Q3 2026 revenue of $64.6 billion, up 26% year over year and above consensus, with advertising revenue also rising 26% on higher ad prices and impressions. However, a $9.89 billion legal settlement charge and elevated AI-related capital expenditures drove operating margins lower and produced negative free cash flow, triggering a roughly 12% share-price decline in the days after the October 21 release. The stock traded in the $610–$650 range during the week of October 26 amid ongoing investor focus on monetization of AI investments and the company’s narrowed 2026 capex guidance of $135–145 billion. Fourth-quarter revenue is projected at $73–76 billion, and the shares currently change hands near $620, reflecting trader emphasis on expense trajectory versus core advertising momentum.