"Our primary focus is deploying capital to support the company's highest order priorities, including developing leading AI products, models and business solutions. As we make significant investments in infrastructure to support this work, we are focused on preserving maximum long-term flexibility to ensure we can meet our future capacity needs while also being able to respond to how the market develops in the years ahead. We're doing so in several ways, including staging datacentre sites so we can spring up capacity quickly in future years as we need it, as well as establishing strategic partnerships that give us option value for future compute needs."
"Li said she anticipates total expenses will grow at a significantly faster percentage rate in 2026 than 2025, with growth driven primarily by infrastructure costs, including incremental cloud expenses and depreciation."
"Employee compensation costs will be the second largest contributor to growth, as we recognise a full year of compensation for employees hired throughout 2025, particularly AI talent, and add technical talent in priority areas," she added."
Meta could face a materially lower effective tax rate under the One Big Beautiful Bill, reducing reported tax expense and increasing effective net income substantially. Meta posted third-quarter revenue of $51bn, a 26% year-on-year increase, while total expenses rose to $31bn, up 32%. Capital expenditure, including principal payments on finance leases, reached $19.4bn, driven by servers, datacentres and network infrastructure investments. CFO Susan Li said capital deployment prioritises AI products, models and business solutions while preserving long-term flexibility through staged datacentre sites and strategic partnerships. Li expects expense growth to accelerate in 2026, driven mainly by infrastructure and rising employee compensation.
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