Jun 2026 (Q2 FY26) — Jul 29, 2026
Meta Platforms, Inc. Q2 FY26 — AI Investments Drive Core Business Growth and New Product Development
Read the full callMeta Platforms (META) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Meta Platforms earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 60,801 | +28.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 30.9 | −12.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 15,848 | −13.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
35 of 40 judged targets kept · 44 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Business AI expansion to more markets | expand availability of business AIs to more markets in 2026 while extending their capabilities | Dec 2025 | We made Meta business agents available globally this quarter on WhatsApp and Messenger. | Achieved |
| Engineering output per engineer growth | 30% increase in output per engineer since the start of 2025, expected to accelerate through the next half | Dec 2025 | Q1 and Q2 FY26 both discuss AI coding agents and engineer productivity ('helping make our engineers more productive') but neither restates the output-per-engineer figure it was first quantified on. | Ghosted |
| Effective tax rate | 13% to 16% | Dec 2025 | we expect our tax rate for the remaining quarters of 2026 to be between 15% to 17%, an increase from our prior outlook of 13% to 16% | Revised Down |
5 of Meta Platforms, Inc.'s 84 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 81 more targets are in the full ledger.
Claimed
- 3.6 billion people using at least one Meta app daily, showcasing broad community reach.
- Family of Apps ad revenue grew 27% year-over-year to $59.4 billion, outpacing competitors.
- Total revenue increased 28% year-over-year to $60.8 billion.
- Instagram reached 2 billion daily actives, and Threads crossed 500 million monthly actives, becoming the fastest-growing conversation app ever.
- 9 million small businesses are now using at least one of Meta's AI ad creative tools, indicating strong adoption of AI-powered solutions.
Qualified
- Total expenses rose 55% year-over-year to $42 billion, including $2.4 billion in legal charges and $1.2 billion in severance expenses.
- GAAP operating income declined 8% year-over-year to $18.8 billion.
- Free cash flow was $784 million, significantly lower than capital expenditures of $31.1 billion.
- Headcount decreased 3% from Q1 to 75,000 employees, following a May 2026 reduction impacting 8,000 employees.
- The expected tax rate for the remaining quarters of 2026 increased to 15-17% from the prior outlook of 13-16%.
Price
$705.44 −0.55% · −$3.89
Performance −1.6% 1Y
1Y: $716.92 on 17 Oct 2025 → $705.44. High $777.59 (24 Sept 2026), low $525.72 (27 Mar 2026).
- Previous close
- $709.33
- 52-week range
- $525.72 – $777.59
- One year
- −3.65%
Overview
- Symbol
- META
- Sector
- Communication Services
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
35 of 40 judged targets kept · 44 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Business AI expansion to more markets | expand availability of business AIs to more markets in 2026 while extending their capabilities | Dec 2025 | We made Meta business agents available globally this quarter on WhatsApp and Messenger. | Achieved |
| Engineering output per engineer growth | 30% increase in output per engineer since the start of 2025, expected to accelerate through the next half | Dec 2025 | Q1 and Q2 FY26 both discuss AI coding agents and engineer productivity ('helping make our engineers more productive') but neither restates the output-per-engineer figure it was first quantified on. | Ghosted |
| Effective tax rate | 13% to 16% | Dec 2025 | we expect our tax rate for the remaining quarters of 2026 to be between 15% to 17%, an increase from our prior outlook of 13% to 16% | Revised Down |
Claimed
- 3.6 billion people using at least one Meta app daily, showcasing broad community reach.
- Family of Apps ad revenue grew 27% year-over-year to $59.4 billion, outpacing competitors.
- Total revenue increased 28% year-over-year to $60.8 billion.
- Instagram reached 2 billion daily actives, and Threads crossed 500 million monthly actives, becoming the fastest-growing conversation app ever.
- 9 million small businesses are now using at least one of Meta's AI ad creative tools, indicating strong adoption of AI-powered solutions.
Qualified
- Total expenses rose 55% year-over-year to $42 billion, including $2.4 billion in legal charges and $1.2 billion in severance expenses.
- GAAP operating income declined 8% year-over-year to $18.8 billion.
- Free cash flow was $784 million, significantly lower than capital expenditures of $31.1 billion.
- Headcount decreased 3% from Q1 to 75,000 employees, following a May 2026 reduction impacting 8,000 employees.
- The expected tax rate for the remaining quarters of 2026 increased to 15-17% from the prior outlook of 13-16%.
The full ledger
Open Meta Platforms, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 84 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 29, 2026
Meta Platforms Q1 FY26 — Strong AI Progress and Core Business Growth
Read the full callDec 2025 (Q4 FY25) — Jan 28, 2026
Meta Platforms Q4 FY25 — Strong AI-driven Performance and Infrastructure Investment
Read the full callEvery analysed call
Meta Platforms earnings calls (META)
Financials
What the filings say
Net profit, year on year: −14% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 40,589 | 48,386 | 42,314 | 47,516 | 51,242 | 59,894 | 56,311 | 60,801 |
| Expenses | 23,239 | 25,021 | 24,759 | 27,075 | 30,707 | 35,149 | 33,439 | 42,026 |
| Operating profit | 17,350 | 23,365 | 17,555 | 20,441 | 20,535 | 24,745 | 22,872 | 18,775 |
| Operating margin | 42.8% | 48.3% | 41.5% | 43.0% | 40.1% | 41.3% | 40.6% | 30.9% |
| Other income | 472 | 187 | 827 | 93 | 1,128 | 608 | -1,120 | -19 |
| Profit before tax | 17,822 | 23,552 | 18,382 | 20,534 | 21,663 | 25,353 | 21,752 | 18,756 |
| Tax rate | 12.0% | 11.5% | 9.4% | 10.7% | 87.5% | 10.2% | −23.1% | 15.5% |
| Net profit | 15,688 | 20,838 | 16,644 | 18,337 | 2,709 | 22,768 | 26,773 | 15,848 |
| EPS ($ per share) | 6.20 | — | 6.59 | 7.28 | 1.08 | — | 10.57 | 6.23 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 95,793 |
| Reserves | 41,981 | 55,692 | 77,345 | 69,761 | 64,799 | 82,070 | 102,506 | 121,179 |
| Total liabilities | 13,207 | 32,322 | 31,026 | 41,108 | 60,014 | 76,455 | 93,417 | 148,778 |
| Fixed assets | 24,683 | 35,323 | 45,633 | 57,809 | 79,518 | 96,587 | 121,346 | 176,400 |
| Investments | — | — | — | 31,397 | 26,057 | 23,541 | 33,926 | 45,719 |
| Total assets | 97,334 | 133,376 | 159,316 | 165,987 | 185,727 | 229,623 | 276,054 | 366,021 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 29,274 | 36,314 | 38,747 | 57,683 | 50,475 | 71,113 | 91,328 | 115,800 |
| Cash from investing | -11,603 | -19,864 | -30,059 | -7,570 | -28,970 | -24,495 | -47,150 | -102,003 |
| Cash from financing | -15,572 | -7,299 | -10,292 | -50,728 | -22,136 | -19,500 | -40,781 | -20,370 |
| Net cash flow | 1,920 | 9,155 | -1,325 | -1,089 | -1,269 | 27,231 | 2,611 | -6,338 |
| Capital expenditure | -13,915 | -15,102 | -15,163 | -18,690 | -31,186 | -27,045 | -37,256 | -69,691 |
| Free cash flow | 15,359 | 21,212 | 23,584 | 38,993 | 19,289 | 44,068 | 54,072 | 46,109 |
META revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Family Of Apps | 99% | 98% | 99% | 99% | 99% | 98% | 99% | 99% | +28.0% |
| Reality Labs | 1% | 2% | 1% | 1% | 1% | 2% | 1% | 1% | +16.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
META operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Daily active people (DAP) | 3.4B+Our community keeps growing with more than 3.4 billion people now using at least one of our apps each day.Source: earnings call transcript | 3.5BWe had another strong quarter with 3.5 billion people using at least one of our apps every day.Source: earnings call transcript | 3.5B+We ended 2025 strong with more than 3.5 billion people now using at least one of our apps every day.Source: earnings call transcript | — | 3.6BWe had a strong quarter for our community and business with 3.6 billion people using at least one of our apps each day.Source: earnings call transcript | — |
| Monthly active users (MAU) Threads | 350M+Threads now also has more than 350 million monthly actives and continues to be on track to become our next major social app.Source: earnings call transcript | — | — | — | 500M+Threads crossed 500 million monthly actives, making it the fastest-growing conversation app ever.Source: earnings call transcript | — |
| Monthly active users (MAU) Meta AI | <1BAcross our apps, there are now almost 1 billion monthly actives using Meta AI.Source: earnings call transcript | 1B+More than 1 billion monthly actives already use Meta AI and we see usage increase as we improve our underlying models.Source: earnings call transcript | — | — | — | — |
| Employees | 76.8K+We ended Q1 with over 76,800 employees, up 4% quarter-over-quarter.Source: earnings call transcript | 78.4K+We ended Q3 with over 78,400 employees, up 8% year-over-year, driven by hiring in priority areas of monetization, infrastructure, Reality Labs, Meta Superintelligence Labs as well as regulation and compliance.Source: earnings call transcript | 78.8K+We ended Q4 with over 78,800 employees, up 6% year-over-year.Source: earnings call transcript | 77.9K+We ended Q1 with over 77,900 employees, down 1% from Q4 as the impact of headcount optimization efforts in certain functions was partially offset by hiring in priority areas of monetization and infrastructure.Source: earnings call transcript | 75K+We ended Q2 with over 75,000 employees, down 3% from Q1.Source: earnings call transcript | — |
| Daily active people (DAP) Family of Apps | 3.4B+Our community across the Family of Apps continues to grow, and we estimate more than 3.4 billion people used at least one of our Family of Apps on a daily basis in March.Source: earnings call transcript | 3.5B+Our community across the family of apps continues to grow, and we estimate more than 3.5 billion people used at least 1 of our family of apps on a daily basis in September.Source: earnings call transcript | 3.5B+Our community across the Family of Apps continues to grow, and we estimate more than 3.5 billion people used at least one of our Family of Apps on a daily basis in December.Source: earnings call transcript | 3.56BWe estimate 3.56 billion people used at least one of our family of apps on a daily basis in March, which declined slightly from December due to Internet disruptions in Iran and a restriction on access to WhatsApp in Russia.Source: earnings call transcript | — | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US Canada 39%
- Asia Pacific 26% ↓ 1 pt
- Europe 23%
- Rest Of World 11%
As META cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
494 filings between Oct 20, 2025 and Oct 12, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$260.38M
302 sales by 11 insiders
97% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 129
- Option exercise — converted options into shares
- 34
- Tax withheld — shares kept back by the company to cover tax
Also filed: 19 conversions, 10 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| LI SUSAN J | — | $105.71M | Aug 18, 2026 |
| Cox Christopher K | — | $55.02M | Sep 21, 2026 |
| Olivan Javier | — | $41.16M | Oct 12, 2026 |
| Bosworth Andrew | — | $24.28M | Aug 18, 2026 |
| Zuckerberg Mark | — | $21.36M | Sep 24, 2026 |
| Newstead Jennifer | — | $3.75M | Dec 30, 2025 |
| KIMMITT ROBERT M | — | $3.12M | Aug 3, 2026 |
| Anderson Aaron | — | $2.43M | Sep 3, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 12, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $59.7K |
| Oct 12, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 946 | $688.8K |
| Oct 12, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 408 | $297.1K |
| Oct 12, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 57 | $41.5K |
| Oct 12, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $59.7K |
| Oct 5, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 57 | $41.5K |
| Oct 5, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $59.7K |
| Oct 5, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 946 | $688.8K |
| Oct 5, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 408 | $297.1K |
| Oct 5, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $59.7K |
| Sep 28, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 408 | $305.6K |
| Sep 28, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $61.4K |
| Sep 28, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 57 | $42.7K |
| Sep 28, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 946 | $709.9K |
| Sep 28, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $61.4K |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 4,324 | $3.37M |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 7,607 | $5.92M |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 600 | $467.6K |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 2,093 | $1.62M |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 2,516 | $1.95M |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 476 | $370.9K |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 2,146 | $1.67M |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 1,133 | $878.4K |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Conversion 10b5-1 plan | 17,140 | $0 |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 1,769 | $1.37M |
| Sep 24, 2026 | Zuckerberg Mark COB and CEO | Sale 10b5-1 plan | 4,810 | $3.74M |
| Sep 21, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $55.8K |
| Sep 21, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 57 | $38.8K |
| Sep 21, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $55.8K |
| Sep 21, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 946 | $643.5K |
| Sep 21, 2026 | Cox Christopher K Chief Product Officer | Sale 10b5-1 plan | 20,000 | $14.50M |
| Sep 21, 2026 | Cox Christopher K Chief Product Officer | Sale 10b5-1 plan | 20,000 | $14.01M |
| Sep 21, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 408 | $277.6K |
| Sep 15, 2026 | Cox Christopher K Chief Product Officer | Sale 10b5-1 plan | 20,000 | $13.50M |
| Sep 14, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $53.9K |
| Sep 14, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 408 | $268.4K |
| Sep 14, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 57 | $37.5K |
| Sep 14, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 946 | $622.2K |
| Sep 14, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 82 | $53.9K |
| Sep 9, 2026 | Cox Christopher K Chief Product Officer | Sale 10b5-1 plan | 18,578 | $12.08M |
| Sep 9, 2026 | Cox Christopher K Chief Product Officer | Sale 10b5-1 plan | 1,422 | $925.9K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 52 | $32.3K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 473 | $291.7K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 304 | $187.9K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 200 | $122.9K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 157 | $97.2K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 40 | $24.5K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 354 | $218.0K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 24 | $15.0K |
| Sep 8, 2026 | Olivan Javier Chief Operating Officer | Sale 10b5-1 plan | 40 | $24.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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