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Meta Platforms: The Headline Beat Was Real — Free Cash Flow Went Negative for the First Time
Meta Platforms beat on both lines on October 21 — EPS 7.40 vs 6.54 expected (+13.15%), revenue $64.60B (+1.99% vs estimate, +26.07% YoY) — then posted a 20.10% operating margin, down 1,997 basis points year over year, and its first negative free cash flow quarter in this nine-quarter series, -$1,156