Evercore analyst comments on Meta's 'Beat & Bracket' Q1

Evercore ISI analyst Mark Mahaney commented on Meta Platforms (NASDAQ: META) earnings report in a Flash Note Wednesday:

• The analyst commented, "META—Quick Look At Q1 Results. Meta printed a Beat & Bracket Q1 with Q1 Revenue of $56.3B (+33% Y/Y and +29% Y/Y exFX, accelerating vs. +23% Y/Y ex-FX in Q4:25 against a 1-pt easier comp) coming in 2% ahead of the Street and toward the high end of guidance of $53.5-$56.5B, Operating Income of $22.9B (41% margin, 6 pts ahead of the Street) coming in 19% ahead of the Street, and GAAP EPS of $10.44, coming in 58% ahead of the Street. For Q2, Meta guided revenue of $58-$61B (+25% Y/Y at the midpt, inclusive of an anticipated 2-pt FX tailwind to growth), bracketing pre-print Street consensus $59.6B. For FY26, Meta reiterated its TotEx guidance of $162-$169B (+38% Y/Y to +44% Y/Y), but raised its CapEx guidance range to $125-$145B (+79% to +108% Y/Y), up from $115-$135B (+65% to +95% Y/Y) prior."

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