Meta forecast “notably larger” capital expenses next year thanks to investments in AI, and recorded a nearly $16 billion one-time charge related to President Trump’s ‘Big Beautiful Bill’ that pummeled its third-quarter profit.

Shares of the company fell more than 6% after the bell.

Excluding the charge, Meta said its third-quarter net income would have increased by $15.93 billion to $18.64 billion, compared to the reported net income of $2.71 billion.

While third-quarter revenue beat estimates, the 26% growth was outpaced by a 33% increase in costs, which pressured margins.

After a late start, Meta has doubled down on AI, with a target of achieving superintelligence, a theoretical milestone where machines could outthink humans. To that end, it has spent hundreds of billions of doll

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