Meta Platforms, Inc. engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide.
Meta Platforms (META): Q2 2026 results
Meta is held in the US Starter Pack and is also one of the Magnificent Seven. The company reported June quarter results after the close on Wednesday 29 July.
Revenue rose 28 percent year on year to $60.80 billion, ahead of the $60.2 billion consensus. Diluted earnings per share of $6.18 fell 13 percent and missed the $7.22 estimate. Two discrete charges explain the gap: $2.40 billion related to legal proceedings, booked in general and administrative expense, and $1.18 billion of severance tied to the May headcount reduction. Meta has not said which legal matters the charge covers. The effective tax rate also rose to 16 percent from 11 percent. Susan Li told investors that excluding the legal charges and severance, operating income would have risen 9 percent.
| Metric | Actual | Consensus |
| Revenue | $60.80bn | $60.2bn |
| Diluted EPS | $6.18 | $7.22 |
| Q3 revenue guidance | $61 to 64bn | $63.2bn |
| FY26 capex guidance | $130 to 145bn | prior $125 to 145bn |
Advertising revenue rose 27 percent to $59.36 billion, with impressions up 14 percent and average price per ad up 12 percent. Family of Apps other revenue passed $1 billion for the first time, up 73 percent on WhatsApp paid messaging and subscriptions. Family daily active people averaged 3.60 billion in June, up 3 percent. Headcount fell 1 percent to 75,472, and most of the roughly 8,000 affected employees leave the count by the end of the third quarter.
Costs rose 55 percent to $42.03 billion. Research and development climbed 67 percent to $21.66 billion and general and administrative rose 111 percent to $5.61 billion. Operating income fell 8 percent to $18.78 billion and the operating margin dropped to 31 percent from 43 percent. Reality Labs generated $431 million of revenue against an operating loss of $4.62 billion. Capital expenditure reached $31.1 billion, and free cash flow fell to $784 million from $8.55 billion.
Meta narrowed 2026 capital expenditure guidance to $130 to $145 billion by lifting the floor, and declined to give a 2027 figure. Li said near-term capacity is more valuable than long-term capacity. Third quarter revenue guidance of $61 to $64 billion sits about 1 percent below consensus at the midpoint, and full-year expenses were guided to $165 to $169 billion.
Shares closed down 1.3 percent at $585.61, then fell as much as 9.6 percent after hours to around $529, approaching the 52-week low of $520.26.
