Shares of Meta Platforms Inc. (NASDAQ:META) saw a 7.67% drop during the pre-market trading session on Thursday after the company reported a massive one-time charge in its third-quarter earnings report.

Meta Boosts AI Spending

Meta’s Q3 earnings report, released on Wednesday, revealed diluted earnings per share of $1.05, including a one-time, non-cash income tax charge of $15.93 billion. This figure contrasts with the estimated $6.68.

On an adjusted basis, the earnings per share stood at $7.25. The quarterly revenue of $51.24 billion exceeded the Street estimate of $49.38 billion, marking a 26.25% increase from the same period last year.

Zuckerberg expressed optimism about the company’s future, particularly its Meta Superintelligence Labs and AI glasses. He also outlined the company’s plans for 2026, which include a significant increase in capital expenditures and total ...