Meta Q3 revenue seen near $63.8B; 2027 capex in focus

The gap between headline revenue and the settlement-adjusted profit line is the real story here: a legal one-off is doing most of the damage to GAAP figures, which makes the underlying operating trend harder to read at a glance. What matters for the broader AI-capex trade is whether Meta's 2027 spending signals reinforce or soften the sector's infrastructure buildout narrative, since hyperscaler budgets have become a key demand anchor for compute and power-linked assets. The open question is whether AI monetization commentary keeps pace with that spending; a widening gap between capex commitments and visible returns would be the signal worth watching.