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飞猪儿
#MetaQ3营收超预期,巨额AI投入引发担忧
Meta 最新已披露的是 2026 财年 Q3(截至 2026-09-30,10/21 盘后发布)。核心结论:
广告基本盘很硬,AI 已反哺主业;但诉讼费打穿表观利润、资本开支狂飙、自由现金流转负。市场短期买“AI+广告”叙事,长期看 2027 年 ROI 兑现。
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