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    • Meta earnings: Stocks fall as company shares more of its spending plans
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    Meta earnings: Stocks fall as company shares more of its spending plans

    Umito Posted on

    Meta Platforms CEO Mark Zuckerberg said the social media company will continue to invest in building out its infrastructure because of the huge opportunity.

    “The formula around building infrastructure may not be, you know, what investors want to hear in the short term, which is we’re growing this,” he said. “But you know, I just think the opportunities here are really great.”

    Earlier, Meta said it would increase its capital spending range to between $38 billion and $40 billion this year, up from its previous plans to spend between $37 billion and $40 billion.

    “We are going to continue to invest significantly in this area,” Zuckerberg said. “I’m proud of the teams who are doing a great job building great capacity so we can deliver world-class designs and products.”

    Umito
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