Access Restricted

Key Takeaways

• Meta reported Q3 2026 revenue of $64.60 billion, up 26% year on year and above its own $61 billion to $64 billion guidance.^1,2
• Capital expenditure, including finance lease principal, of $34.91 billion topped $32.79 billion of operating cash flow, leaving free cash flow at negative $2.12 billion.¹
• Meta plans a non-voting Class C share, established effective 19 January 2027 and paid one-for-one as a stock dividend on dates not yet set, which works like a two-for-one Meta stock split.¹

Meta stock closed at $697.52 on 21 October, up 0.47%, then rose more than 4% after hours once Meta Platforms, Inc. (NASDAQ: META) reported a revenue beat and announced plans for a brand-new class of shares.^3,4 By 09:47 (GMT+8) on 22 October 2026, the overnight quote on the TradingView NASDAQ: META chart had cooled to $713.20, 2.25% above the close. Roughly half the after-hours gain had gone home before Asia finished breakfast.

We read the release twice, because the first pass only tells the happy half. Revenue cleared the top of Meta’s own guidance; a few lines further down, spending ran ahead of the cash the business brought in, and the new share class looks like a tool built for that gap. Why Meta stock is up today, and why not more, sits in those few lines.

For readers in Asia, timing is the practical problem: on Vantage, META quotes from 19:05 (GMT+8), well before the 21:30 (GMT+8) Nasdaq open. That is why we are covering this Meta stock news in our stock market analysis before the Asia evening.

Meta Stock Today: The Short Answer

Meta stock rose after hours on 21 October after Q3 revenue reached $64.60 billion, above its guidance. By 09:47 (GMT+8) on 22 October, the overnight quote was $713.20, up 2.25%, while the same release showed negative free cash flow and a brand-new non-voting share class.

As of 09:47 (GMT+8) on 22 October 2026, the Meta stock price today per share stood at $713.20 overnight against a $697.52 close; the 52-week range, per Google Finance, is $520.26 to $779.82.^3,5 This is a timestamped snapshot, not a Meta stock price live feed, and and not a Meta stock forecast, prediction, or rating, for 2030 or for next week.

Meta Q3 2026 Results at a Glance

Metric	Q3 2026	Comparison
Revenue	$64.60 billion	$51.24 billion a year earlier; guidance $61 billion to $64 billion
Average Price per Ad	+14%	Ad impressions +10%
Diluted EPS	$3.83	$7.40 excluding the $9.89 billion legal charge
Operating Margin	20% (35% excluding the legal charge)	40% a year earlier
Free Cash Flow	-$2.12 billion	+$10.63 billion a year earlier; $784 million in Q2 2026
Q4 Revenue Guidance	$73 billion to $76 billion	Bloomberg consensus $73.60 billion

Table 1: Meta Q3 2026 headline figures. Sources: Meta Q3 and Q2 2026 results releases; The Motley Fool call transcript (margin excluding the charge); TheStreet (Bloomberg consensus). As of 22 October 2026.

Ad Sales Beat the Top of Meta’s Guidance

Meta stock earnings landed above the top of the range. Revenue of $64.60 billion grew 26%, clearing the top of July’s $61 billion to $64 billion guidance by $0.60 billion, and Investing.com put the beat against consensus at 1.99%.^1,2,6

The engine was pricing. Ad impressions rose 10%, the average price per ad rose 14%, and an average of 3.64 billion people used a Meta app each day in September.¹ Fourth-quarter guidance of $73 billion to $76 billion has a $74.50 billion midpoint, above the $73.60 billion Bloomberg consensus that TheStreet cited.^1,7

Diluted earnings per share (EPS) was $3.83 as reported and $7.40 without a $9.89 billion charge for Meta’s August agreement with 52 US attorneys general.¹ One quarter, two EPS numbers, and a legal bill between them. Because of that charge, EPS consensus comparisons varied by data provider, so this piece leans on the revenue line.⁶

On the Meta AI news front, Mark Zuckerberg credited Muse and Muse Wonder, Meta’s first frontier model, and said “our investments are paying off, the core business is strong”.¹

That explains the jump after the bell. It does not explain the fade.

Capex Outran the Cash Coming In

The mood changes on the cash flow statement. Capital expenditure, including finance lease principal, was $34.91 billion against $32.79 billion of operating cash flow, which left free cash flow at negative $2.12 billion.¹ A year earlier it was positive $10.63 billion; in the second quarter of 2026 it was $784 million.^1,2

Picture a household whose salary keeps rising while the instalments on its house extension now cost more each month than the salary brings in.

Meta raised the floor of its 2026 capex range to $135 billion from $130 billion, with the top unchanged at $145 billion.¹ Cash and marketable securities slipped to $82.45 billion from $90.26 billion at the end of June, long-term debt reached $80.92 billion from $58.74 billion at end-2025, and there were no share repurchases in the first nine months of 2026.^1,2

On the call, JPMorgan’s Doug Anmuth pressed on next year’s spending, opening with “thinking about 2027, I know you are not really there yet”.⁸ CFO Susan Li said plans were still early, with guidance due on the Q4 call.⁸

If the ads no longer cover the build-out on their own, who does?

The Meta Stock Split Doubles as a Funding Tool

Here is the twist we think matters most. The Meta stock split is technically a stock dividend: the new non-voting Class C stock is established effective 19 January 2027, then one Class C share is paid for every Class A and Class B share, after which Meta expects the Class A price to reflect a two-for-one split.¹ Record and payment dates are not set, and Yahoo Finance reported Class C trading should begin in late January 2027.^1,3 One new share for every old one, minus the vote.

Classic Stock Split vs Meta’s Class C Stock Dividend

Feature	Classic 2-for-1 Split	Meta’s Class C Dividend
New Shares per Share Held	One more share of the same class	One non-voting Class C share
Votes on New Shares	Same as existing shares	None
Share Count	Doubles	Doubles, across two listed classes
Existing Share Price	Adjusts to roughly half	Meta expects Class A to reflect a two-for-one split
Creates a New Class to Issue Later	No	Yes: capital raising, pay, and acquisitions are named purposes
Key Date	Set by the board	Effective 19 January 2027; record and payment dates to be set

Table 2: How Meta’s structure differs from a classic split. Source: Meta Q3 2026 results release. As of 22 October 2026.

Goldman Sachs analyst Eric Sheridan asked about exactly this on the call, seeking Meta’s thinking on “sources of capital and optimizing your capital structure”.⁹ Li said there were no specific financing plans yet.⁸

Meta’s own information statement is blunter. It records management telling the special committee’s counsel on 29 May that it expected “substantial increasing pressure to undertake additional financing”.¹⁰ Voting control does not move: Zuckerberg keeps about 60.6% of the vote on a 13.4% economic interest, and only 20% of the Class C shares he receives are unrestricted.¹¹

A normal split changes the share count and little else. This one also creates stock Meta could issue later without touching voting control, announced in the same release that showed free cash flow below zero. Any such issuance would leave each existing share a smaller slice of the company.

Meta’s ads beat its own revenue guidance. Its capital spending beat its operating cash flow by $2.12 billion.

Not every analyst reads the spending as a warning sign. After the Q2 report in July, Deutsche Bank’s Benjamin Black wrote that the core business has “the momentum and earnings power to support its expanding AI ambitions”.¹² Q3’s revenue fits that reading; Q3’s cash flow is the page sceptics tend to circle.

The overnight fade may reflect markets weighing a beat against a new funding channel, though price data cannot separate the two. The chart shows how far that tug of war got before Asia woke up.

Overnight Quote Stalled Under the Averages

The Meta stock chart came into the report heavy. Meta stock prices slid from the $779.82 52-week high in late September, through the 200-period moving average on 16 October, to a low wick near $681 on 20 October; the close sat 10.55% below that high.⁵

Momentum had already reset. In technical analysis terms, the 14-period Relative Strength Index (RSI) on the TradingView setup used for this analysis slipped below 30 on 19 and 20 October and ended 21 October at 40.97, against its moving average of 39.91.

The overnight $713.20 sat almost exactly on the 21 October intraday high and $6.33 below the 200-period average at $719.53, with the falling 50-period average at $722.30 just $2.77 above that. A neat bit of symmetry, though symmetry is not a signal.

META Levels Traders Are Watching, as of 09:47 (GMT+8), 22 October 2026

Level	Price	What the Chart Shows
Upper Reference	$779.82 / near $771	52-week high (late September) / 13 October swing high
Level 1 Resistance Zone	$719.53 to $722.30	200- and 50-period hourly moving averages, $2.77 apart
Overnight Reference	$713.20	Overnight quote; near the 21 October intraday high
Official Close	$697.52	21 October Nasdaq close, up 0.47%
Level 1 Support	Near $690	20 October base and 21 October late-session wick
Level 2 Support	Near $681	20 October low wick

Table 3: META reference levels. Sources: TradingView NASDAQ: META H1 chart; Yahoo Finance (official close); Google Finance (52-week high). Indicative only, as of 09:47 (GMT+8), 22 October 2026.

Levels describe where price has been. The calendar decides when the next tests arrive.

Dates Meta Traders Are Watching

• META Open on Vantage, 22 October 2026: Quotes from 19:05 (GMT+8), ahead of the 21:30 (GMT+8) cash open. Follow Meta news today and market news today.
• FOMC Decision, 29 October 2026: The Federal Open Market Committee (FOMC) statement lands at 02:00 (GMT+8), with the US 10-year yield at 5.15%, a backdrop for Meta’s stock.^1,13 See Nasdaq news today.
• Earnings Season, Late October: Meta reported a week ahead of its usual last-Wednesday-of-October slot.⁷ See earnings news today and stock market news today.
• Youth-Related Trials, Coming Months: Meta flagged several US trials scheduled in the months ahead.¹
• Class C Effective Date, 19 January 2027: Record and payment dates still to be set; trading expected in late January.^1,3
• Next Meta Stock Earnings Date, Late January 2027: Public.com lists 27 January; Meta has not confirmed it.¹⁴ Late January is getting crowded.

What would change the read: a size or timetable for any Class C issuance, free cash flow back above zero in Q4, or a 2027 capex figure on the Q4 call.⁸

Meta Stock Questions Answered

When Is the Meta Stock Split?

The Class C stock is established effective 19 January 2027, and the one-for-one stock dividend is paid after that on record and payment dates Meta has not yet set. After payment, Meta expects the Class A price to reflect a two-for-one split, with Class C trading expected in late January.^1,3

Why Is Meta Stock Up After Hours?

The Meta stock price after hours rose as Q3 revenue beat Meta’s own guidance and Q4 guidance came in at $73 billion to $76 billion. By 09:47 (GMT+8) on 22 October, the overnight quote was 2.25% above the close, about half the early move.^1,4

Is Meta Stock on the Nasdaq or the NYSE?

Meta trades on the Nasdaq under META, not the NYSE, and Meta intends to list the new Class C shares on the Nasdaq as well.¹

Earnings Gaps, Stop Loss, and Leverage

Back to the opening puzzle: why had half the after-hours gain faded by 09:47 (GMT+8)? The release answers both ways: revenue that beat guidance, and a funding gap the new share class gives Meta a way to address. An overnight quote below the $719.53 to $722.30 averages suggests $META stock had not settled the question by the Asia morning, for anyone investing in Meta or trading it.

The 2.25% gap between the close and the overnight quote opened while the cash market was shut, which is how earnings risk usually arrives. A Stop Loss can help limit a loss to a planned size, but it executes at the next available price, so a market that opens away from its prior level can fill it at a worse price than set. How much of an account rests on one stock through an earnings week and the 29 October Fed decision is part of the same exposure picture.

Contracts for Difference (CFDs) on shares are leveraged products, and leverage magnifies losses as well as gains relative to the margin committed. As arithmetic only, at 1:10 a 2.25% move in the underlying equals 22.50% of the margin committed. Maximum leverage varies by account and Vantage entity, positions held overnight can carry financing costs, and position size relative to account equity decides how much a move of that size affects an account balance.

RISK WARNING: CFDs are complex financial instruments and carry a high risk of losing money rapidly due to leverage. You should ensure you fully understand the risks involved and carefully consider whether you can afford to take the high risk of losing your money before trading.

Disclaimer: The information is provided for educational purposes only and doesn’t take into account your personal objectives, financial circumstances, or needs. It does not constitute investment advice. We encourage you to seek independent advice if necessary. The information has not been prepared in accordance with legal requirements designed to promote the independence of investment research. No representation or warranty is given as to the accuracy or completeness of any information contained within. This material may contain historical or past performance figures and should not be relied on. Furthermore estimates, forward-looking statements, and forecasts cannot be guaranteed. The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

References

[1] “Meta Reports Third Quarter 2026 Results – Yahoo Finance (PR Newswire)” https://finance.yahoo.com/markets/stocks/articles/meta-reports-third-quarter-2026-200100698.html Accessed on 22 October 2026.

[2] “Meta Reports Second Quarter 2026 Results – Meta Investor Relations” https://investor.atmeta.com/investor-news/press-release-details/2026/Meta-Reports-Second-Quarter-2026-Results/ Accessed on 22 October 2026.

[3] “Meta Earnings Live: Meta Beats Q3 Revenue Expectations, Announces 2-for-1 Stock Split – Yahoo Finance” https://finance.yahoo.com/markets/stocks/live/meta-earnings-live-meta-q3-earnings-to-test-wall-streets-stomach-for-ai-spending-173000302.html Accessed on 22 October 2026.

[4] “Meta to Issue New Class of Shares as It Tightens AI Spending Forecast – MarketScreener (Reuters)” https://www.marketscreener.com/news/meta-to-issue-new-class-of-shares-as-it-tightens-ai-spending-forecast-ce785cd9dd8cf623 Accessed on 22 October 2026.

[5] “Meta Platforms Inc (META:NASDAQ) – Google Finance” https://www.google.com/finance/quote/META:NASDAQ?fstype=ii Accessed on 22 October 2026.

[6] “Earnings Call Transcript: Meta Beats Q3 2026 Estimates as AI Push Lifts Shares – Investing.com” https://za.investing.com/news/stock-market-news/earnings-call-transcript-meta-beats-q3-2026-estimates-as-ai-push-lifts-shares-93CH-4517877 Accessed on 22 October 2026.

[7] “Stock Market Today: October 21, 2026 – TheStreet Pro” https://pro.thestreet.com/stock-market-today/2026-10-21 Accessed on 22 October 2026.

[8] “Meta (META) Q3 2026 Earnings Call Transcript – The Motley Fool” https://www.fool.com/earnings/call-transcripts/2026/10/21/meta-meta-q3-2026-earnings-call-transcript/ Accessed on 22 October 2026.

[9] “Meta Platforms Q3 2026 Earnings Call Transcript – Benzinga” https://www.benzinga.com/news/26/10/62514401/meta-platforms-q3-2026-earnings-call-transcript Accessed on 22 October 2026.

[10] “Meta Platforms, Inc. Form PRE 14C – SEC EDGAR” https://www.sec.gov/Archives/edgar/data/0001326801/000162828026066710/meta-20261021.htm Accessed on 22 October 2026.

[11] “Meta Beats on Revenue and Splits Its Stock With Nonvoting Shares to Raise Capital – SiliconANGLE” https://siliconangle.com/2026/10/21/meta-beats-on-revenue-and-splits-its-stock-two-for-one-with-non-voting-class-c-shares-raise-capital/ Accessed on 22 October 2026.

[12] “The Ceiling for Shares of Meta Is Lower After Its Earnings Report, Analysts Say – CNBC” https://www.cnbc.com/2026/07/30/the-ceiling-for-shares-of-meta-is-lower-after-its-earnings-report-analysts-say.html Accessed on 22 October 2026.

[13] “October 2026 – Federal Reserve Board” https://www.federalreserve.gov/newsevents/2026-october.htm Accessed on 22 October 2026.

[14] “Meta (META) Earnings Dates & Reports – Public.com” https://public.com/stocks/meta/earnings Accessed on 22 October 2026.