Meta tops Q3 revenue expectations, announces 2-for-1 stock split. Tesla and IBM beat too.

Meta (META) kicked off Big Tech’s earnings season after the bell Wednesday, beating expectations on revenue, but GAAP earnings per share took a hit as a result of legal fees related to its teen mental health settlement.

The company also announced a 2-for-1 stock split, giving each owner of Class A Meta shares a non-voting Class C share.

The move will allow Meta to ensure CEO Mark Zuckerberg retains overall control of the company, while allowing it to continue to finance its AI buildout.

Revenue for the quarter was an all-time high of $64 billion, well ahead of the $63.3 billion analysts were anticipating. GAAP earnings per share came in at $3.83 versus expectations of $3.56, but would have been $7.40 without the legal charge.

https://finance.yahoo.com/markets/stocks/live/meta-earnings-live-meta-q3-earnings-to-test-wall-streets-stomach-for-ai-spending-173000302.html

Tesla reported better-than-expected third-quarter results after the bell on Wednesday, even as automotive revenue dropped. The stock was little changed in extended trading.

Here’s how the company did, compared with estimates from analysts polled by LSEG:

Earnings per share: 48 cents adjusted vs. 43 cents estimated
Revenue: $28.05 billion vs. $27.9 billion estimated

Tesla’s earnings report lands a day after CEO Elon Musk told investors on SpaceX’s quarterly call that it would be a “good idea” for his two companies to merge, and said the boards at both have formed special committees to discuss a possible tie-up.

https://www.cnbc.com/2026/10/21/tesla-tsla-q3-2026-earnings-report.html
 

IBM shares slipped in extended trading on Wednesday after the technology vendor reported better-than-predicted third-quarter results.

Here’s how the company performed relative to LSEG consensus:

Earnings: $2.95 adjusted vs. $2.86 expected
Revenue: $17.10 billion vs. $16.82 billion expected
IBM’s revenue grew about 5% from a year ago, according to a statement. Net income, at $2.19 billion, or $2.30 per share, increased from $1.74 billion, or $1.84 per share, a year ago. Adjusted earnings exclude acquisition-related adjustments.

https://www.cnbc.com/2026/10/21/ibm-q3-earnings-report-2026.html