According to a report published by Citi, Meta Platforms' revenue for the second quarter and guidance for the third quarter were generally in line with expectations, but operating profit after adjusting laws and layoffs was about 9% higher than the bank's forecast. Management's revenue guidance for the third quarter was $61 billion to $64 billion, up 19% to 24.9% year over year, and about 1% lower than market expectations in median terms. According to the report, Meta's artificial intelligence product roadmap is gradually becoming clear. CEO Zuckerberg said that artificial intelligence is speeding up the product development cycle, and that personal and commercial agents, Muse series basic models and APIs, Meta AI, Meta Glasses, new applications, and subscription service Meta One are being launched one after another, which will bring greater visibility and new revenue streams. Citi raised Meta's capital expenditure forecast for 2026 to US$144 billion, and projected capital expenditure for 2027 and 2028 to reach US$205 billion and US$249 billion, respectively. Free cash flow is expected to turn negative in the second half of 2026 and continue until 2028. The bank lowered its target price from $850 to $800, which is equivalent to about 22 times the projected price-earnings ratio in 2027, maintaining a “buy” rating.

According to a report published by Citi, Meta Platforms' revenue for the second quarter and guidance for the third quarter were generally in line with expectations, but operating profit after adjusting laws and layoffs was about 9% higher than the bank's forecast. Management's revenue guidance for the third quarter was $61 billion to $64 billion, up 19% to 24.9% year over year, and about 1% lower than market expectations in median terms. According to the report, Meta's artificial intelligence product roadmap is gradually becoming clear. CEO Zuckerberg said that artificial intelligence is speeding up the product development cycle, and that personal and commercial agents, Muse series basic models and APIs, Meta AI, Meta Glasses, new applications, and subscription service Meta One are being launched one after another, which will bring greater visibility and new revenue streams. Citi raised Meta's capital expenditure forecast for 2026 to US$144 billion, and projected capital expenditure for 2027 and 2028 to reach US$205 billion and US$249 billion, respectively. Free cash flow is expected to turn negative in the second half of 2026 and continue until 2028. The bank lowered its target price from $850 to $800, which is equivalent to about 22 times the projected price-earnings ratio in 2027, maintaining a “buy” rating.