11:54 AM EDT, 04/24/2026 (MT Newswires) -- Meta Platforms (META) is expected to post strong Q1 revenue growth, but rising operating expenses may limit earnings upside, Oppenheimer said in a note Thursday.

"Despite a robust revenue outlook, higher compute costs will limit earnings upside, even with headcount reductions,"the report said. Oppenheimer kept its perform rating for the stock.

Oppenheimer analysts said they are cautious heading into Q1 results due April 29. They expect revenue growth of over 30%, in line with guidance midpoint, but about 1% below Street.

While 2026 capex guidance could remain constant or be lowered or deferred, Meta is leveraging more third-party compute, driving higher operating costs, the report said.

Price: 671.34, Change: +12.19, Percent Change: +1.85