META Q3 2026 — free cash flow negative for first time ever at -$1.2B · AI capex exceeds operating cash
Published · Updated · By Investus editorial desk (SUNRYU Partners)
Meta Q3 FCF -$1.2B — first negative quarter since IPO in 2012. AI capex of $34.9B in a single quarter exceeded operating cash flow. Revenue $64.6B (+26%), adj EPS $7.40 beat estimates. Cash generation turned negative for the first time.
A full English translation of this report is in progress. The analysis below reflects the original Korean research. Read the Korean original →
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