Meta Platforms Keeps Mum on 2027 Cost, Capex Projections, Wedbush Securities Says

11:59 AM EDT, 10/22/2026 (MT Newswires) -- Meta Platforms (META) remained mum on cost and capital expenditure projections for 2027 as it issued Q3 results and Q4 outlook, Wedbush Securities said in a Thursday note. The company reported Q3 earnings of $3.83 per diluted share, up from $1.05 a year earlier, as revenue rose to $64.60 billion from $51.24 billion a year ago. For Q4, Meta expects revenue of $73 billion to $76 billion. While management highlighted the company's artificial intelligence monetization efforts, no outlook for 2027 revenue growth was given, Wedbush said. The brokerage said it expects the company to require a ramp up in compute capacity next year to support its AI product releases. "The question for us remains what this costs next year as Meta aggressively invests to support its capacity needs into next year," Wedbush said, noting encouraging opportunities from agentic AI though monetization remains early. The brokerage raised its 2027 capex estimate for Meta to $249 billion from $210 billion. Wedbush Securities maintained its neutral rating on Meta Platforms, with a higher price target of $730 from $700. Price: 657.84, Change: -39.68, Percent Change: -5.69