META $META Q3 REVENUE $64.6B BEATS, DECLARES ONE-TIME NONVOTING STOCK DIVIDEND • Revenue: $64.601B vs $63.368B est, beat • EPS: $3.83 • Operating margin: 20% • Advertising revenue: $63.06B • Capex: $34.91B • Free cash flow: negative $2.12B • Costs and expenses include a $9.89B charge related to legal proceedings • Family daily active people: 3.64B on average for September • Headcount: 66,775 as of Sep 30, down 15% from a year earlier Class C stock: Meta is creating a new class of nonvoting capital stock, effective January 2027. It declared a one-time stock dividend of one Class C share for each outstanding Class A and Class B share, which works out to a two-for-one stock split. Meta also entered into a founder alignment agreement with Mark Zuckerberg. Outlook: • Q4 revenue: $73B-$76B vs $73.73B est • FY total expenses: $175B-$179B, including the $9.9B legal charge recognized in Q3 • FY capex: $135B-$145B, vs prior forecast of $130B-$145B • FY Reality Labs losses: $18B-$19B, down from 2025. Meta expects them to narrow to about $15B next year • Not providing a full-year 2027 revenue outlook Per Meta.