Meta Platforms announced a stronger-than-expected third-quarter revenue outlook, with its core advertising business still growing strongly, enough to support the company's aggressive investment in artificial intelligence (AI). Meta said in a statement on Wednesday that it expects revenue for the current quarter to be between $47.5 billion and $50.5 billion. The median of the range is higher than the average analyst estimate of $46.2 billion, according to data compiled by institutions. Meta also raised the lower end of its capital expenditure forecast range for fiscal 2025, increasing investment in talent, infrastructure, data centers and energy to remain competitive in the rapidly developing AI race. Meta currently expects full-year capital expenditures to be between $66 billion and $72 billion, an increase from its previous forecast of $64 billion to $72 billion.