# Meta and IBM Earnings Fall as Oil Prices Spike

> Meta and IBM beat earnings but stocks fell as oil prices hit $111 a barrel.
- Title: Meta and IBM Earnings Fall as Oil Prices Spike | Shortify
- Summary: Meta and IBM beat earnings but stocks fell as oil prices hit $111 a barrel. Meta and IBM reported strong earnings but investors sold off due to aggressive…
- Keywords: meta, ibm, oil prices, revenue growth, capital expenditures, free cash flow, stock prices, brent crude, startups, business, Earnings, Fall
- Source: Startup Fortune — https://startupfortune.com/meta-and-ibm-earnings-both-get-punished-as-oil-prices-spike-too
- Published: 2026-10-23T00:23:28+00:00
- Read time: 1 min
- Topics: meta, ibm, oil prices, revenue growth, capital expenditures, free cash flow, stock prices, brent crude, startups, business
## Meta Reports Strong Earnings
Meta Platforms reported third-quarter revenue of $64.6 billion, up 26% from a year earlier.
## IBM Beats Earnings Estimates
IBM reported adjusted EPS of $2.65, beating the $2.45 consensus estimate.
## Meta's Capital Expenditures Surge
Meta's capital expenditures reached $34.9 billion, pushing free cash flow to negative $2.1 billion.
## Investors Sell Meta Despite Strong Earnings
The stock fell nearly 7% the next day after Meta's earnings report.
## Oil Prices Spike to $111 a Barrel
Brent crude jumped to a five-month high near $111 a barrel on October 22.
## AI Spending Concerns Intensify
Investors questioned whether Meta's aggressive spending would turn into actual returns.
## Market Reaction to Oil Spike
The Nasdaq Composite dropped 2.6% and the Philadelphia Semiconductor Index fell 6.7% on October 22.
## Key takeaway

Meta and IBM reported strong earnings but investors sold off due to aggressive spending and rising oil prices.