Meta shares rise before open on AI plans, new stock issuance

Meta Platforms

Today 09:08

** Meta Platforms META.O shares rise more than 1% in premarket trading after co announced a new class of stock to fund its AI push, beat Q3 rev estimates and gave a strong Q4 outlook
** Co will issue new non-voting Class C shares in January 2027 and says its new AI agent, Muse, signed up over 10 mln users in its first six weeks
** META also forecast Q4 rev above Wall Street estimates and tightened its annual capex outlook to between $135 bln and $145 bln from $130 bln to $145 bln
** Co reports Q3 free cash flow deficit of $2.12 bln
** Stock is up ~5.7% YTD, lagging the Nasdaq's .IXIC 14.9% rise

 (Reporting by Rashika Singh in Bengaluru)
 ((Rashika.Singh@thomsonreuters.com;))