Meta's revenue growth and above-consensus Q4 guidance keep its growth case strong. Q3 revenue rose 26.07% to $64.601B versus $63.373B expected, and adjusted EPS of $7.40 beat the $5.74 estimate. Q4 revenue guidance is $73B-$76B; its $74.5B midpoint exceeds Wall Street's $73.736B estimate, signaling continued growth into the final quarter of 2026. Long Meta. x.com  x.com  x.com 

Meta's better-than-expected revenue is why it should return to its roughly $800 all-time high. Revenue rose 26.1% year over year to $64.60 billion, above the $63.37 billion analyst estimate; quarterly EPS was $3.83 and net income was $9.86 billion. x.com  x.com 

Meta's heavy spending raises questions about how it will earn a return even if its core business improves. Quarterly free cash flow fell from $13.2 billion in March 2026 to $1.7 billion in June and negative $1.2 billion in September. x.com 

Meta's earnings beat removes the immediate earnings risk from its bullish setup, with the 688 area holding on a closing basis. Q3 revenue was $64.6 billion, up 26%, and EPS of $3.83 beat estimates; Q4 revenue guidance is $73-76 billion. Wave 4 may have ended near 681; a close above the 9- and 21-day averages near 715 would confirm that count, with 755, 773 and 796 as targets. x.com 

Meta's decade of revenue and operating cash flow growth makes it worth at least $2T. LTM revenue rose from $18B in 2015 to $242B, and operating cash flow from $10B to $133B. A $10B legal charge tied to the teenagers case drove the quarterly EPS miss; without it, EPS would have been $7.40. Quarterly free cash flow turned negative for the first time in over 10 years, raising the question of whether the investment will pay off. x.com  x.com  x.com 

Meta's cash generation turned negative in Q3, coinciding with the start of its share-price slide. It was Meta's first negative free-cash-flow quarter in more than a decade. A $25 billion share sale priced at $625 this week, and the shares are already below that price. x.com 

Meta's valuation is compelling again because its operating-cash-flow multiple has fallen while revenue growth accelerated over the past year. It trades at 12x operating cash flow, close to 10x 2027 operating cash flow. Its unique position should make it one of the AI era's biggest winners, with Muse becoming its best asset in the long run. The equity raise's timing was unwelcome, but that is now behind it. x.com 

Meta's growth and earnings make its valuation appealing. It trades at 17x 2027 estimates with 17% EPS and 22% revenue growth. Its $140 billion EBITDA should make it worth more than Anthropic, which has none, though that comparison could be wrong. If distribution is king, Meta Muse could benefit from Meta's 3.64 billion daily active users, according to GuruFocus News. x.com  x.com  x.com 

Large-scale shareholder financing makes Meta's AI buildout more concerning after quarterly free cash flow turned negative. The WSJ reports that Meta is looking to raise $95 billion: $35 billion in common stock and convertible preferred now, followed by up to $60 billion from 2027. x.com 

Meta's core advertising business is significantly outgrowing its biggest competitors even before factoring in the newer businesses it is building. Q3 ad revenue rose 26% year over year, versus 10.6% at Alphabet and 10.9% at Amazon. Back at 19x forward earnings, Meta is the most undervalued Magnificent Seven stock. x.com  x.com