META

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Meta Reports Third Quarter 2026 Results

Announces Establishment of New Class C Common Stock

MENLO PARK, Calif. – October 21, 2026 – Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2026.

"We hit major milestones this quarter toward delivering personal superintelligence for everyone - including launching Muse and Muse Wonder, our first frontier model," said Mark Zuckerberg, Meta founder and CEO. "Our investments are paying off, the core business is strong, and we're seeing velocity across the board."

Third Quarter 2026 Financial Highlights

Three Months Ended September 30, % Change

In millions, except percentages and per share amounts20262025

Revenue$64,601 $51,242 26 %

Costs and expenses51,613 30,707 68 %

Income from operations$12,988 $20,535 (37)%

Operating margin20 %40 %

Provision for income taxes$3,141 $18,954 (83)%

Effective tax rate24 %87 %

Net income$9,860 $2,709 264 %

Diluted earnings per share (EPS)$3.83 $1.05 265 %

Agreement with U.S. State Attorneys General

In August 2026, we announced an agreement with 52 attorneys general to resolve litigation related to teen mental health and social media, which provides for payments of up to approximately $18.59 billion. Third quarter 2026 costs and expenses includes a $9.89 billion charge related to this agreement. Excluding this charge, the third quarter 2026:

•Income from operations of $12.99 billion would have increased by $9.89 billion to $22.88 billion.

•Diluted EPS of $3.83 would have increased by $3.57 to $7.40.

•Effective tax rate of 24% would have decreased by 7 percentage points to 17%.

Third Quarter 2026 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 3.64 billion on average for September 2026, an increase of 3% year-over-year.

•Ad impressions – Ad impressions delivered across our Family of Apps increased by 10% year-over-year.

•Average price per ad – Average price per ad increased by 14% year-over-year.

•Revenue – Revenue was $64.60 billion, an increase of 26% year-over-year on both a reported and constant currency basis.

•Costs and expenses – Total costs and expenses were $51.61 billion, an increase of 68% year-over-year. This includes the litigation charge as discussed above.

•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $34.91 billion.

•Capital return program – Dividend and dividend equivalent payments were $1.36 billion.

•Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $82.45 billion as of September 30, 2026.

•Cash flow – Cash flow from operating activities was $32.79 billion, and free cash flow was negative $2.12 billion.(1)

•Headcount – Headcount was 66,775 as of September 30, 2026, a decrease of 15% year-over-year.

(1) For more information on our free cash flow non-GAAP financial measure, see the sections entitled "Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Results" in this press release.

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CFO Outlook Commentary

We expect fourth quarter 2026 total revenue to be in the range of $73-76 billion. Our guidance assumes foreign currency is an approximately 1% headwind to year-over-year total revenue growth, based on current exchange rates.

We are raising our expense outlook to incorporate the $9.9 billion charge related to legal proceedings recognized in the third quarter. We now expect full year 2026 total expenses to be in the range of $175-179 billion.

Excluding the third quarter legal charge, we continue to expect 2026 operating income to be above 2025 operating income.

At a segment level, we now expect Reality Labs losses to decline compared to 2025 to a range of $18-19 billion.

We anticipate 2026 capital expenditures, including principal payments on finance leases, to be in the range of $135-145 billion, narrowed from our prior outlook of $130-145 billion.

Absent any changes to our tax landscape, we expect our fourth quarter 2026 tax rate to be between 15-17%.

Additionally, we continue to monitor active legal and regulatory matters that could significantly impact our business and financial results. For example, we continue to see scrutiny on youth-related issues in several markets and have a number of youth-related trials scheduled in the coming months in the U.S.

Looking beyond 2026, we are still developing our budget and capacity plans for next year, but we expect to continue investing aggressively to support both our core business and emerging AI initiatives. Our current capacity and what is scheduled to come online gives us the flexibility to allocate resources across model training, core business growth, and the development and support of new products.

Our AI investments are already delivering substantial incremental advertising revenue through stronger engagement, better

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Meta Reports Second Quarter 2026 Results

MENLO PARK, Calif. – July 29, 2026 – Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended June 30, 2026.

"AI is accelerating our core business today, powering our next generation of products, and opening the door to entirely new enterprise opportunities," said Mark Zuckerberg, Meta founder and CEO. "The results are already showing, and I'm optimistic about the potential ahead."

Second Quarter 2026 Financial Highlights

Three Months Ended June 30, % Change

In millions, except percentages and per share amounts20262025

Revenue$60,801 $47,516 28 %

Costs and expenses42,026 27,075 55 %

Income from operations$18,775 $20,441 (8)%

Operating margin31 %43 %

Provision for income taxes$2,908 $2,197 32 %

Effective tax rate16 %11 %

Net income$15,848 $18,337 (14)%

Diluted earnings per share (EPS)$6.18 $7.14 (13)%

Second Quarter 2026 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 3.60 billion on average for June 2026, an increase of 3% year-over-year.

•Ad impressions – Ad impressions delivered across our Family of Apps increased by 14% year-over-year.

•Average price per ad – Average price per ad increased by 12% year-over-year.

•Revenue – Revenue was $60.80 billion, an increase of 28% year-over-year. Revenue on a constant currency basis would have increased by 27% year-over-year.

•Costs and expenses – Total costs and expenses were $42.03 billion, an increase of 55% year-over-year. This includes $2.40 billion of charges related to legal proceedings and $1.18 billion of severance expenses in connection with the May 2026 headcount reduction.

•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $31.08 billion.

•Capital return program – Dividend and dividend equivalent payments were $1.35 billion.

•Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $90.26 billion as of June 30, 2026.

•Long-term debt – Long-term debt was $83.66 billion as of June 30, 2026.

•Cash flow – Cash flow from operating activities was $31.86 billion, and free cash flow was $784 million.(1)

•Headcount – Headcount was 75,472 as of June 30, 2026, a decrease of 1% year-over-year. Our reported headcount includes approximately 8,000 employees impacted by the May 2026 headcount reduction, the majority of whom will no longer be reflected in our headcount by the end of the third quarter of 2026.

(1) For more information on our free cash flow non-GAAP financial measure, see the sections entitled "Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Results" in this press release.

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CFO Outlook Commentary

We expect third quarter 2026 total revenue to be in the range of $61-64 billion. Our guidance assumes foreign currency is an approximately 1% headwind to year-over-year total revenue growth, based on current exchange rates.

We are raising the lower-end of our expense outlook to incorporate the $2.4 billion charges related to legal proceedings recognized in the second quarter. We now expect full year 2026 total expenses to be in the range of $165-169 billion.

We continue to expect to deliver operating income this year that is above 2025 operating income.

We anticipate 2026 capital expenditures, including principal payments on finance leases, to be in the range of $130-145 billion, narrowed from our prior outlook of $125-145 billion.

Absent any changes to our tax landscape, we expect our tax rate for the remaining quarters of 2026 to be between 15-17%, an increase from our prior outlook of 13-16%.

Finally, we continue to monitor active legal and regulatory matters that could significantly impact our business and financial results. For example, we continue to see scrutiny on youth-related issues in several markets and have a number of youth-related trials scheduled for this year in the U.S., which may ultimately result in a material loss.

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Webcast and Conference Call Information

Meta will host a conference call to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET today. The live webcast of the call can be accessed at the Meta Investor Relations website at investor.atmeta.com, along with the company's earnings press release, financial tables, and slide presentation.

Following the call, a replay will be available at the same website. Transcripts of conference calls with publishing equity research analysts held today will also be posted to the investor.atmeta.com website.

Disclosure Information

Meta uses the investor.atmeta.com and meta.com/news websites as well as Mark Zuckerberg's Facebook profile (facebook.com/zuck), Instagram account (instagram.com/zuck) and Threads profile (threads.net/zuck) as means of disclosing material non-public information and for complying with its disclosure obligations under

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