Meta stock falls nearly 8% after Q2 2026 profit miss
Business
Meta, the company behind Instagram and Facebook, just had a rough day on Wall Street: its stock dropped nearly 8% after reporting lower-than-expected profits for Q2 2026.
While revenue was slightly above forecasts at $60.8 billion, earnings per share came in at $6.18 instead of the expected $7.14.
Meta projects $169B expenses amid lawsuits
Meta is now projecting higher annual expenses (up to $169 billion this year) partly due to billions set aside for legal issues.
The company's also spending big on AI infrastructure to keep up with rivals like OpenAI.
Meanwhile, it's facing about 3,000 lawsuits (including claims its apps are addictive for kids), which have already led to multi-million-dollar damages and more worries for investors.