It’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.
