周四盘前交易中，Meta Platforms股价下跌约3%，投资者在权衡该公司快速增长的AI代理业务带来的收益与为其雄心勃勃的AI扩张融资所需不断增加的成本之间的利弊。
Shares of Meta Platforms fell about 3% in premarket trading on Thursday, as investors weighed the benefits of the company's fast-growing AI agent business against the mounting costs of funding its ambitious AI expansion.
该股今年以来已上涨超过5%，如果当前跌幅持续，将使公司市值蒸发约500亿美元。
The stock has gained more than 5% this year and, if current losses hold, is set to erase about $50 billion from the company's market value.
尽管Meta报告的季度收入好于预期，预计第四季度销售额将高于华尔街预期，并强调其新AI代理应用Muse的快速采用，但市场反应依然偏淡。该财报发布几小时后，新墨西哥州一名法官下令该公司在一起与剑桥分析公司相关的数据隐私案件中支付250亿美元罚金。Meta表示计划对该判决提出上诉。这家Instagram母公司正在大力投入以支持其AI计划，预计年度资本支出预测在1350亿至1450亿美元之间。
The downbeat reaction comes despite Meta reporting stronger-than-expected quarterly revenue, forecasting fourth-quarter sales above Wall Street estimates and highlighting rapid adoption of its new AI agent app, Muse The earnings report came hours after a New Mexico judge ordered the company to pay a $25 billion penalty in a data-privacy case linked to Cambridge Analytica. Meta said it plans to appeal the ruling The Instagram parent is spending heavily to support its AI plans, with an expected annual capital expenditure forecast between $135 billion and $145 billion.
该公司还报告第三季度自由现金流赤字为21.2亿美元，而一年前为正的自由现金流。德意志银行分析师本杰明·布莱克表示，Meta的AI投资正在带来更强劲的广告表现和用户参与度，随着投资者越来越多地将计算基础设施视为产生收入的资产而非成本负担，围绕该股票出现了“积极的论点蔓延”。Meta还宣布计划创建一类新的非投票权C类股份，为公司在并购和员工薪酬方面提供额外灵活性，同时保留首席执行官马克·扎克伯格的投票控制权。根据LSEG汇编的数据，至少13家券商在财报发布后上调了该股票的目标价。
It also reported a free cash flow deficit of $2.12 billion in the third quarter, compared with positive free cash flow a year earlier Deutsche Bank analyst Benjamin Black said Meta's AI investments were generating stronger advertising performance and engagement, creating a "positive thesis creep" around the stock as investors increasingly view computing infrastructure as a revenue-generating asset rather than a cost burden Meta also announced plans to create a new class of non-voting Class C shares, giving the company additional flexibility for acquisitions and employee compensation while preserving CEO Mark Zuckerberg's voting control At least 13 brokerages have raised their price targets on the stock after the results, according to data compiled by LSEG