Meta Platforms shares slip below $600 ahead of Q2 earnings report

Meta Platforms' shares closed at $595, slipping back below $600 and trading at about 22 times earnings, roughly 25% under the 52‑week high of $796. The company posted first‑quarter revenue of $56.31 billion, a 33% year‑over‑year increase, with ad impressions rising 19% and average ad price up 12%. Capital spending for 2026 was raised to a range of $125‑$145 billion, with $19.84 billion spent in Q1, while cash and marketable securities totalled $81.18 billion. Management guided Q2 revenue to $58‑$61 billion, indicating growth of 22%‑28%.

Institutional investor Meiji Yasuda America trimmed its stake in Meta by 18.2% during the quarter, selling 4,648 shares and holding 20,886 shares valued at about $11.95 million, making Meta its eighth‑largest holding at 3% of the portfolio.