🔴 META is trading 6.9% down today as raised capex outlook offsets Q1 revenue beat

META is trading at $624.98 (-6.9%) in after-hours following its Q1 earnings release, as a raised full-year capital expenditure forecast weighed on investor sentiment despite a top-line beat.

• Revenue surged 33% year-over-year to $56.3B, exceeding analyst expectations driven by robust advertising growth.
• Management increased its full-year capex guidance, signaling higher-than-expected spending on AI infrastructure.
• The price action slightly exceeds the ±6.35% move implied by the options market ahead of the announcement.