Meta raises 2026 capex guidance to $125 billion–$145 billion from $115 billion–$135 billion, citing higher component prices and additional data center costs; stock tumbles more than 6% after hours.

Meta reported Q1 2026 revenues of $56.3 billion (up 33% year-over-year), operating income of $22.9 billion (up 30%), and net income of $26.8 billion (up 61%). The company raised its full-year 2026 capital expenditure guidance to $125 billion–$145 billion, up from $115 billion–$135 billion.

Meta spent $72.2 billion on capex in 2025. The new guidance implies the company is now planning to spend nearly double what it spent in 2025, and more than it spent in 2025 and 2024 combined. The boost was attributed to higher prices for components and additional data center costs to support future-year capacity.

In after-hours trading, Meta's stock tumbled more than 6%. In contrast, Alphabet and Amazon, which also announced earnings on Wednesday and reported AI-related growth in their cloud-services businesses, saw their share prices rise after hours.

Zuckerberg said Meta is rolling out more than one gigawatt of custom silicon developed with Broadcom, plus significant amounts of AMD chips to complement new Nvidia systems. Meta also noted it would reduce the size of its employee base in May.