Brief: Meta To Create New Class Of Non-Voting Capital Stock

Meta Platforms

Yesterday 21:01

Oct 21 (Reuters) - Meta Platforms, Inc. META.O:
META Q3 REVENUE $64.6 BILLION VERSUS IBES ESTIMATE $63.37 BILLION
META Q3 EPS $3.83
META Q3 CAPITAL EXPENDITURES $34.91 BILLION
META Q3 FREE CASH FLOW NEGATIVE $2.12 BILLION
META Q3 ADVERTISING REVENUE $63.06 BILLION
META OUTLOOK Q4 REVENUE $73 BILLION- $76 BILLION VERSUS IBES ESTIMATE $73.73 BILLION
META OUTLOOK FY TOTAL EXPENSES $175 BILLION-$179 BILLION; INCLUDES $9.9 BILLION CHARGE RELATED TO LEGAL PROCEEDINGS RECOGNIZED IN Q3
META OUTLOOK FY CAPEX $135 BILLION - $145 BILLION VERSUS PRIOR FORECAST $130 BILLION- $145 BILLION
META: ESTABLISHMENT OF NEW CLASS C COMMON STOCK; EFFECTIVE DATE IN JANUARY 2027
META: TO CREATE NEW CLASS OF NON-VOTING CAPITAL STOCK, WHICH WILL BE DISTRIBUTED TO ALL EXISTING STOCKHOLDERS THROUGH A STOCK DIVIDEND
META: FOR EACH EXISTING SHARE HELD, STOCKHOLDERS WILL RECEIVE ONE SHARE OF NEW NON-VOTING STOCK, RESULTING IN TWO-FOR-ONE STOCK SPLIT
META: DECLARED ONE-TIME STOCK DIVIDEND OF ONE SHARE OF CLASS C COMMON STOCK FOR EACH OUTSTANDING SHARE OF CLASS A COMMON STOCK & CLASS B COMMON STOCK
META: ENTERED INTO A FOUNDER ALIGNMENT AGREEMENT WITH MARK ZUCKERBERG
META: Q3 COSTS AND EXPENSES INCLUDES $9.89 BILLION CHARGE
META: EXPECT FY REALITY LABS LOSSES TO DECLINE COMPARED TO 2025, TO RANGE OF $18-19 BILLION
META: FOCUSED ON IMPROVING REALITY LABS PROFITABILITY & EXPECT LOSSES TO NARROW NEXT YEAR TO ABOUT $15 BILLION

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