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Meta Platforms (META) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 22, 2026 · Meta Platforms (META) Q3 2026 earnings results →

Q3 2026 Revenue up 26% year over year to $64.6B · 15¢ of every $1 of revenue kept as net profit · operating margin 20.1%

Meta Platforms made $64.6B in Q3 2026 (+26% Y/Y): Family of Apps $64.2B, Reality Labs $443M. Operating margin 20.1%, net earnings $9.9B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 22, 2026.

Revenue$64.6B
Year over year+26%
Operating margin20.1%
Net earnings$9.9B
Operating cash flow$32.8B

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Meta Platforms Q3 2026 revenue breakdown: Sankey diagram of revenue (Family of Apps, Reality Labs), costs, profit and cash flow
Meta Platforms Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $64.6B in Q3 2026, up 26% year over year and up 6% from the previous quarter. Family of Apps was the largest line at 99% of revenue. Family of Apps added $13.4B year over year (up 26%), 100% of the total change. Reality Labs declined 6%.

Operating profit was $13.0B, a 20.1% margin (down 20.0 points year over year). Operating profit fell $7.5B even though revenue rose $13.4B versus Q3 2025, so costs grew faster than sales. Total costs grew 68% against revenue growth of 26%. The fastest-growing cost line was General & admin (+323%). Net earnings were $9.9B, up 264% year over year. The effective tax rate was 24.2%.

Operating cash flow was $32.8B (up 9% year over year), 333% of net earnings. Non-cash charges added back $7.2B of depreciation and amortization and $7.4B of share-based compensation. Working capital and other items added $8.4B. Capital expenditures of $33.9B exceeded it, leaving free cash flow of −$1.2B.

Quarterly history

Meta Platforms revenue by quarterMeta Platforms revenue by quarter$42.3BQ1 2025$47.5BQ2 2025$51.2BQ3 2025$59.9BQ4 2025$56.3BQ1 2026$60.8BQ2 2026$64.6BQ3 2026
Meta Platforms net earnings by quarterMeta Platforms net earnings by quarter$16.6BQ1 2025$18.3BQ2 2025$2.7BQ3 2025$22.8BQ4 2025$26.8BQ1 2026$15.8BQ2 2026$9.9BQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 22, 2026$64.6B+26%20.1%$9.9B$32.8B
Q2 202610-QJul 30, 2026$60.8B+28%30.9%$15.8B$31.9B
Q1 202610-QApr 30, 2026$56.3B+33%40.6%$26.8B$32.2B
Q4 202510-KJan 29, 2026$59.9B+24%41.3%$22.8B$36.2B
Q3 202510-QOct 30, 2025$51.2B+26%40.1%$2.7B$30.0B
Q2 202510-QJul 31, 2025$47.5B+22%43.0%$18.3B$25.6B
Q1 202510-QMay 1, 2025$42.3B+16%41.5%$16.6B$24.0B

Charts

Meta Platforms: revenue growth, year over year and quarter over quarterMeta Platforms: revenue growth, year over year and quarter over quarterY/YQ/Q+16%Q1 2025+22%+12%Q2 2025+26%+8%Q3 2025+24%+17%Q4 2025+33%-6%Q1 2026+28%+8%Q2 2026+26%+6%Q3 2026
Latest (Q3 2026): Y/Y +26%, Q/Q +6%.
Meta Platforms: where the cash came from (+) and went (−), TTM to Q3 2026Meta Platforms: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$133.1BCapital spending−$104.4BNet borrowing (+) / repaid (−)$51.3BOther investing−$44.1BTaxes on employees’ shares−$17.0BCash drawn (+) / kept (−)−$12.4BDividends−$5.4BOther financing−$1.0BExchange rates−$9.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Meta Platforms: profit against cash, quarter by quarterMeta Platforms: profit against cash, quarter by quarterNet incomeOperating cash flow$20.8B$28.0BQ4 2024$16.6B$24.0BQ1 2025$18.3B$25.6BQ2 2025$2.7B$30.0BQ3 2025$22.8B$36.2BQ4 2025$26.8B$32.2BQ1 2026$15.8B$31.9BQ2 2026$9.9B$32.8BQ3 2026
Latest (Q3 2026): Net income $9.9B, Operating cash flow $32.8B.
Meta Platforms: diluted shares by fiscal yearMeta Platforms: diluted shares by fiscal year2.89BFY20202.86BFY20212.70BFY20222.63BFY20232.61BFY20242.57BFY2025
-10.9% since FY2020: buybacks shrank the count.
Meta Platforms: long-term debt falling due (FY2025)Meta Platforms: long-term debt falling due (FY2025)$2.8B2027$1.5B2028$1.0B2029$5.0B2030$48.8BLater
Cash $35.9B, short-term investments $45.7B, long-term debt $58.7B at 2025-12-31.
Meta Platforms in its industry: growth against margin (51 companies, SIC 7370)Meta Platforms in its industry: growth against margin (51 companies, SIC 7370)revenue growth, year over year →↑ operating marginmedian +9%median -1%GOOGLSPCXFLUTAPPSNAPZMPINSNIQMTCHSABRTTDRXTFDSTBLATRIPPPLITEMDOCNCSQRTEADEVERBMBLDVMGNIGRNDZIPDSPHSTMNXDRPUBMHCATRUMBLNDCDLXSSTCEVAYYAIPODCIPMGOAIDJTCSAIIPDNCNETTWAVTRSOMITIRMXIGITSBBLRMETA (+26%, 20%)
Services-Computer Programming, Data Processing, Etc.; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

AI data-center capex money flowAI data-center capex · buyer

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Buys from

About Meta Platforms

Our products enable people to connect and share through mobile devices, personal computers, virtual reality (VR) headsets, and AI glasses. We are innovating in artificial intelligence (AI) technologies to build transformative experiences and capabilities across our Family of Apps and new platforms, and to advance our vision to deliver personal superintelligence for everyone. We build technology that helps people connect and share, find and build communities, and grow businesses. We also help people discover and learn about what is going on in the world around them, enable people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large, and stay connected everywhere by accessing our products.

In its own words, from its 10-K, filed Jan 29, 2026.

Meta Platforms against its Services-Computer Programming, Data Processing, Etc. peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +26% against the peers' median +14%. Operating margin: 20.1% against the peers' median 19.1%.

CompanyQuarterRevenueY/YOp. margin
META Meta PlatformsQ3 2026$64.6B+26%20.1%
GOOGL AlphabetQ3 2026$127.6B+25%31.8%
SPCX Space Exploration TechnologiesQ3 2026$14.6B+161%19.1%
FLUT Flutter EntertainmentQ3 2026$3.9B+2%-30.7%
APP AppLovinQ3 2026$2.2B+56%78.2%
SNAP SnapQ3 2026$1.7B+14%4.5%
ZM Zoom CommunicationsQ2 FY27$1.3B+5%24.6%
PINS PinterestQ3 2026$1.2B+12%2.6%
NIQ NIQ Global IntelligenceQ2 2026$1.1B+8%5.8%

Source: Meta Platforms 10-Q on SEC EDGAR · CIK 1326801 · Services-Computer Programming, Data Processing, Etc.

Guidance and outlook

Meta Platforms Revenue: guidance against what was reportedMeta Platforms Revenue: guidance against what was reportedguided rangereported (above / within / below)Q1 2025$42.3BQ2 2025$47.5BQ3 2025$51.2BQ4 2025$59.9BQ1 2026$56.3BQ2 2026$60.8BQ3 2026$64.6BQ4 2026
Met or beat 8 of 8 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Meta Platforms Tax rate: guidance against what was reportedMeta Platforms Tax rate: guidance against what was reportedguided rangereported (above / within / below)FY202529.6%Q4 202510.2%FY2026Q4 2026
Met or beat 1 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Meta Platforms: what its forward-looking statements are about (10-Q filed 2026-10-22)Meta Platforms: what its forward-looking statements are about (10-Q filed 2026-10-22)Demand9Other5AI3Tax3Legal & regulation1Products1Margins1Capital spending1Financing1Buybacks & dividends1
26 statements; tone -0.08 (−1 all cautious, +1 all confident); 3 hedged.
Meta Platforms: outlook statements against the filing beforeMeta Platforms: outlook statements against the filing beforeNew3Updated2Dropped1Confident7Cautious9

13F: who owns META and who is buying

Largest holders of META (13F)Largest holders of META (13F)Vanguard Group$132.0BBlackRock$97.7BVanguard Capital Management LLC$80.8BFMR LLC$54.0BState Street$51.8BGeode Capital Management, LLC$30.8BCapital World Investors$23.0BCapital Research Global Investors$22.3BMorgan Stanley$22.2BVanguard Portfolio Management LLC$21.6B
Funds' net buying of META by quarter (13F)Funds' net buying of META by quarter (13F)−$5.1B2024-09−$7.3B2024-12−$3.0B2025-03$10.2B2025-06−$13.6B2025-09$63.3B2025-12−$42.1B2026-03$7.2B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on META

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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