Ecosystem responses to precipitation pulses (“pulse responses”) exert a large control over global carbon, water, and energy cycles. However, it is unclear how the timing and magnitude of pulse responses will vary across ecosystems as precipitation regimes shift under accelerating climate change. To address this issue, this study evaluates how plants and ecosystems respond to precipitation pulses and explores potential implications of altered precipitation regimes for the carbon and water cycles. In particular, we conducted a global meta-analysis to quantify the magnitude and timing of plant and ecosystem carbon-related (A_net, NPP, GPP, R_eco, R_bg) and water-related (ET, T, Ψ, g_s) responses to 587 precipitation pulses. By analyzing pulse-response metrics published in the primary literature, we evaluated the characteristics of those pulse responses. We assessed whether precipitation pulses lead to a classic pulse response (i.e., a hump-shaped response as described by the pulse-reserve framework), a linear pulse response, a combination of classic and linear, or a lack of a pulse response. If a pulse response occurred, we explored the factors that drove its timing, magnitude, and speed. Our meta-analyses revealed that the classic, hump-shaped response is not ubiquitous, as it only accounted for 52% of the pulse responses. However, when a pulse response did occur, carbon-related responses to precipitation pulses were larger in magnitude (e.g., larger peak) than water-related pulse responses at relatively arid sites. However, at relatively mesic sites, this relationship reversed (i.e., water-related responses to precipitation pulses were larger than carbon-related responses). Additionally, larger precipitation pulse amounts increased water-related response magnitudes more than carbon-related response magnitudes across both arid and mesic sites. Therefore, under future precipitation intensification, carbon-related responses to precipitation pulses may become more decoupled from water-related pulse responses in wetter biomes but more coupled to water-related pulse responses in drier biomes.