Tech company brings in record quarterly revenue but major tax bill dampens earnings per share

Meta will report third-quarter earnings on Wednesday and investors will be watching for any signs that it will increase spending on artificial intelligence.

Tech company brings in record quarterly revenue but major tax bill dampens earnings per share

Better-than-expected results from Meta Platforms were being overshadowed by worries around the company's massive artificial intelligence spending plans.

Meta's results raised skepticism over the payoff from its aggressive artificial intelligence spending plans and overshadowed strong results.

Earnings fell significantly below Wall Street’s expectations, though Meta said it would have exceeded projections before a hefty tax charge.