Meta Platforms Inc. (META · NASDAQ)

Meta Platforms (META, NASDAQ) reported $6.18 in Q2 EPS versus $7.10 expected, a 12.96% miss that broke a streak of three consecutive beats, with net income of $15.85B down from $26.77B in the prior quarter despite revenue rising to $60.80B. Free cash flow compressed to $1.75B as capex of $30.12B nearly matched operating cash flow of $31.86B, while earnings fell 13.4% year over year against 28.0% revenue growth. The stock closed at $709.33, down 3.7% on the day and 8.8% below its 52-week high, though it remains up 17.1% over three months and 12.4% above its 200-day moving average. Leverage stays modest at 1.0x debt/EBITDA with a 2.23 current ratio, and the company trades at a 26.73 P/E against an analyst target of $814.51.