Meta (META) shares soared more than 9% in early trading Thursday, after the company reported better than expected second quarter earnings results Wednesday, and despite warning it expects to see “significant” capital expenditures growth in 2025.
“While we do not intend to provide any quantitative guidance for 2025 until the fourth quarter call, we expect infrastructure costs will be a significant driver of expense growth next year as we recognize depreciation and operating costs associated with our expanded infrastructure footprint,” CFO Susan Li said in a statement.
AI spending is a key measure for Wall Street as investors anxiously await a return on Big Tech’s investments in the technology. During its prior quarter, Li raised the company’s full-year total expense estimate from between $94 billion and $99 billion to between $96 billion and $99 billion.
For the second quarter, Meta…
