Meta Projects Increasing Expenses, Takes One-Time Tax Charge

Meta Platforms Inc. said it expects total expenses to significantly increase in 2026, and the company will continue to spend at historic levels on data centers and other equipment to fuel its effort in artificial intelligence. The shares dropped in extended trading.

The company also reported third-quarter net income of $2.71 billion, which included a one-time, non-cash income tax charge of $15.9 billion due to the implementation of the tax bill signed into law in July, Meta said in the statement. Without the accounting charge, Meta said net income would have increased 19% to $18.6 billion.