Filing Flows › Meta Platforms (META) › Q2 2026 › vs Q2 2025
Meta Platforms (META) Q2 2026 vs Q2 2025 (year over year)
Meta Platforms's revenue rose $13.3B (+28%) from $47.5B in Q2 2025 to $60.8B in Q2 2026. The biggest changes: Family of Apps +$13.2B (+28%); Reality Labs +$61.0M (+16%). Operating margin 30.9% against 43.0% (-12.1 pts).
Meta Platforms, Q2 2026: revenue $60.8B (+28% year over year), operating margin 30.9%, net earnings $15.8B, operating cash flow $31.9B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 30.9% | 43.0% | -12.1 pts |
| Net margin | 26.1% | 38.6% | -12.5 pts |
| Free cash flow margin | 1.3% | 18.0% | -16.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Family of Apps | $60.4B | $47.1B | $13.2B | +28% |
| Reality Labs | $431M | $370M | $61.0M | +16% |
| Revenue | $60.8B | $47.5B | $13.3B | +28% |
| Operating profit | $18.8B | $20.4B | −$1.7B | -8% |
| Costs & expenses | $42.0B | $27.1B | $15.0B | +55% |
| Pre-tax earnings | $18.8B | $20.5B | −$1.8B | -9% |
| Cost of revenue | $11.3B | $8.5B | $2.8B | +33% |
| Research & development | $21.7B | $12.9B | $8.7B | +67% |
| Sales & marketing | $3.4B | $3.0B | $452M | +15% |
| General & admin | $5.6B | $2.7B | $2.9B | +111% |
| Net earnings | $15.8B | $18.3B | −$2.5B | -14% |
| Income tax | $2.9B | $2.2B | $711M | +32% |
| Depreciation & amortization | $6.4B | $4.3B | $2.0B | +46% |
| Share-based compensation | $7.7B | $4.8B | $2.8B | +58% |
| Working capital & other | $2.0B | −$2.0B | $4.0B | — |
| Operating cash flow | $31.9B | $25.6B | $6.3B | +25% |
| Free cash flow (company-reported) | $784M | $8.5B | −$7.8B | -91% |
| Purchases of property and equipment | $30.1B | $16.5B | $13.6B | +82% |
| Principal payments on finance leases | $962M | $474M | $488M | +103% |
Questions
How much did Meta Platforms's revenue grow year over year in Q2 2026?
Meta Platforms's revenue rose $13.3B (+28%) from $47.5B in Q2 2025 to $60.8B in Q2 2026.
What drove Meta Platforms's revenue change in Q2 2026?
Family of Apps +$13.2B (+28%); Reality Labs +$61.0M (+16%).