Meta posts disappointing Q3 revenue forecast as free cash flow hits near-four-year low amid AI spending surge

Meta reported Q2 2026 earnings with free cash flow dropping to its lowest since late 2022, as heavy AI investment failed to generate matching revenue growth. The company issued a weaker-than-expected Q3 forecast.

• The Key Takeaways From Meta's Earnings and Lackluster Forecast
• Meta’s Free Cash Flow Dwindles to Lowest in Nearly Four Years
• Microsoft’s AI spending became cloud revenue. Meta’s became a cash-flow hole.