United StatesMeta ended the quarter $2.12 billion cash-negative.

Meta’s long-term debt rose from $58.7 billion to $80.9 billion in nine months.

Meta spent $86 billion on capital expenditure in nine months, and guides to $135 billion to $145 billion for 2026.

Revenue still rose 26% to $64.6 billion, yet the shares fell about 7% on 22 October.

New Mexico’s $25 billion penalty, which Meta is appealing, is not yet fully booked.

How each outlet framed it
TMTPost leans critical
splits Meta's ad strength from its cost blowout, tying the first negative free cash flow since 2012 to the $25B New Mexico penalty and $9.89B settlement

Sources: TMTPost