Meta posted a second-quarter profit that beat expectations by a wide margin, and revenue that topped forecasts for a 12th-straight quarter, as active users, ad impressions and ad prices all rose. The company also provided a revenue outlook for the current quarter that was better than forecast.

In the midst of an artificial intelligence spending spree, Meta posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased.

“We currently expect another year of similarly significant capital expenditures dollar growth in 2026,” Meta CFO Susan Li said in the earnings release. Analysts said the 2026 outlook suggests Meta will spend roughly $100 billion in capex next year, significantly ahead of earlier expectations among analysts.