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Meta Platforms, Inc. (META) Q1 FY2026 Financial Statements: Revenue $56.31B, Net income $26.77B

CIK 0001326801 · Nasdaq · Period: Q1 FY2026 (ended 2026-03-31, 10-Q accession 0001628280-26-028526) · Annual report: FY2025 10-K (filed 2026-01-29, accession 0001628280-26-003942)

More for Meta Platforms: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026Q1 FY2026

Archived record for Q1 FY2026. The current period is Q2 FY2026.

Published

Meta Platforms reported $56.31 billion in revenue for Q1 FY2026, the quarter ended March 31, 2026, up 33.1% from a year earlier on higher ad impressions and higher average prices per ad. Net income of $26.77 billion was up 60.9%, but most of that increase came from a discrete income tax benefit that turned the quarter's tax line into a credit rather than an expense; operating income, the cleaner read on the business, was $22.87 billion, up 30.3%. Purchases of property and equipment rose to $19.00 billion, up 46.8%, as Meta pressed ahead with its data center and AI infrastructure build; the capital expenditure figure Meta guides to, which it raised again for this year, is a broader one that also includes principal payments on finance leases.

MetricAmountvs. year ago
Revenue$56,311,000,000up 33.1%
Net income$26,773,000,000up 60.9%
Diluted EPS$10.44up 62.4%
Operating income$22,872,000,000up 30.3%
Capital expenditures (purchases of property and equipment)$18,997,000,000up 46.8%

About this file

TickerMETA
CIK0001326801
CompanyMeta Platforms, Inc.
Business typetechnology (digital advertising platform)
Schema templateStandard operating-company template (revenue, cost of revenue, operating expenses, operating income, net income, diluted EPS; cash, debt, assets, equity; operating cash flow, capital expenditure, free cash flow), extended with Meta's two reportable segments -- Family of Apps and Reality Labs -- because the segment split is where the economics of this business actually live: Family of Apps funds a large, persistent Reality Labs operating loss.
Reporting currencyUSD
Converted to USDno
Unitsactual dollars (not millions), except per-share amounts and share counts

META annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Fiscal year202520242023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Source accession0001628280-26-0039420001628280-26-0039420001628280-26-003942
Source form10-K10-K10-K
Income statement
Revenue200,966,000,000164,501,000,000134,902,000,000
Cost of revenue36,175,000,00030,161,000,00025,959,000,000
Gross profit164,791,000,000134,340,000,000108,943,000,000
Research and development57,372,000,00043,873,000,00038,483,000,000
Marketing and sales11,991,000,00011,347,000,00012,301,000,000
General and administrative12,152,000,0009,740,000,00011,408,000,000
Total costs and expenses117,690,000,00095,121,000,00088,151,000,000
Operating income83,276,000,00069,380,000,00046,751,000,000
Interest and other income net2,656,000,0001,283,000,000677,000,000
Pretax income85,932,000,00070,663,000,00047,428,000,000
Income tax expense25,474,000,0008,303,000,0008,330,000,000
Net income60,458,000,00062,360,000,00039,098,000,000
Per share
Basic EPS23.9824.6115.19
Diluted EPS23.4923.8614.87
Basic shares2,521,000,0002,534,000,0002,574,000,000
Diluted shares2,574,000,0002,614,000,0002,629,000,000
Dividends declared per share2.12.00.0
Revenue detail
Advertising196,175,000,000160,633,000,000131,948,000,000
Family of apps other revenue2,584,000,0001,722,000,0001,058,000,000
Family of apps total198,759,000,000162,355,000,000133,006,000,000
Reality labs2,207,000,0002,146,000,0001,896,000,000
Segments
Family of apps
Revenue198,759,000,000162,355,000,000133,006,000,000
Operating income102,469,000,00087,109,000,00062,871,000,000
Reality labs
Revenue2,207,000,0002,146,000,0001,896,000,000
Operating income-19,193,000,000-17,729,000,000-16,120,000,000
Balance sheet
Cash and cash equivalents35,873,000,00043,889,000,00041,862,000,000
Marketable securities45,719,000,00033,926,000,000
Cash and marketable securities81,592,000,00077,815,000,000
Accounts receivable net19,769,000,00016,994,000,000
Total current assets108,722,000,000100,045,000,000
Property and equipment net176,400,000,000121,346,000,000
Operating lease right of use assets20,404,000,00014,922,000,000
Goodwill24,534,000,00020,654,000,000
Total assets366,021,000,000276,054,000,000
Total current liabilities41,836,000,00033,596,000,000
Long term debt58,744,000,00028,826,000,000
Finance lease liabilities1,184,000,000n/a
Total debt59,928,000,00028,826,000,000
Operating lease liabilities25,153,000,00020,234,000,000
Total liabilities148,778,000,00093,417,000,000
Total equity217,243,000,000182,637,000,000153,168,000,000
Cash flow
Operating cash flow115,800,000,00091,328,000,00071,113,000,000
Capex69,691,000,00037,256,000,00027,045,000,000
Principal payments on finance leases2,524,000,0001,969,000,0001,058,000,000
Free cash flow43,585,000,00052,103,000,00043,010,000,000
Free cash flow excluding finance leases46,109,000,00054,072,000,00044,068,000,000
Depreciation and amortization18,616,000,00015,498,000,00011,178,000,000
Share based compensation20,427,000,00016,690,000,00014,027,000,000
Share repurchases26,248,000,00030,125,000,00019,774,000,000
Dividends and dividend equivalents paid5,324,000,0005,072,000,0000
Investing cash flow-102,003,000,000-47,150,000,000-24,495,000,000
Financing cash flow-20,370,000,000-40,781,000,000-19,500,000,000
Balance sheet coverage noteThe FY2025 10-K's balance sheet presents only December 31, 2025 and December 31, 2024, so a full 2023 balance sheet is not available from that filing. The two 2023 items shown here do appear on its face: cash and cash equivalents in the cash flow statement's restricted-cash reconciliation, and total stockholders' equity in the statements of stockholders' equity.

META quarterly income statement, balance sheet and cash flow

2026-03-312025-03-31
Fiscal periodFY2026 Q1FY2025 Q1 (prior-year comparative)
Period start2026-01-012025-01-01
Period end2026-03-312025-03-31
Source accession0001628280-26-0285260001628280-26-028526
Source form10-Q10-Q
Income statement
Revenue56,311,000,00042,314,000,000
Cost of revenue10,218,000,0007,572,000,000
Gross profit46,093,000,00034,742,000,000
Research and development17,699,000,00012,150,000,000
Marketing and sales2,908,000,0002,757,000,000
General and administrative2,614,000,0002,280,000,000
Total costs and expenses33,439,000,00024,759,000,000
Operating income22,872,000,00017,555,000,000
Interest and other income expense net-1,120,000,000827,000,000
Pretax income21,752,000,00018,382,000,000
Income tax expense-5,021,000,0001,738,000,000
Net income26,773,000,00016,644,000,000
Per share
Basic EPS10.576.59
Diluted EPS10.446.43
Basic shares2,534,000,0002,527,000,000
Diluted shares2,564,000,0002,590,000,000
Dividends declared per share0.5250.525
Revenue detail
Advertising55,024,000,00041,392,000,000
Family of apps other revenue885,000,000510,000,000
Family of apps total55,909,000,00041,902,000,000
Reality labs402,000,000412,000,000
Segments
Family of apps
Revenue55,909,000,00041,902,000,000
Operating income26,900,000,00021,765,000,000
Reality labs
Revenue402,000,000412,000,000
Operating income-4,028,000,000-4,210,000,000
Balance sheet
Cash and cash equivalents23,426,000,000
Marketable securities57,754,000,000
Cash and marketable securities81,180,000,000
Accounts receivable net17,470,000,000
Total current assets109,765,000,000
Property and equipment net194,776,000,000
Operating lease right of use assets23,268,000,000
Goodwill24,748,000,000
Total assets395,250,000,000
Total current liabilities46,753,000,000
Long term debt58,748,000,000
Total debt58,748,000,000
Operating lease liabilities28,021,000,000
Total liabilities151,569,000,000
Total equity243,681,000,000
Shares outstanding
As of2026-04-24
Class a2,196,045,588
Class b342,377,716
Total2,538,423,304
Cash flow
Operating cash flow32,226,000,00024,026,000,000
Capex18,997,000,00012,941,000,000
Principal payments on finance leases843,000,000751,000,000
Free cash flow12,386,000,00010,334,000,000
Free cash flow excluding finance leases13,229,000,00011,085,000,000
Depreciation and amortization5,999,000,0003,900,000,000
Share based compensation6,032,000,0004,147,000,000
Share repurchases012,754,000,000
Dividends and dividend equivalents paid1,346,000,0001,329,000,000
Investing cash flow-33,678,000,000-20,010,000,000
Financing cash flow-6,553,000,000-19,495,000,000
Balance sheet noteThe 10-Q's balance sheet presents March 31, 2026 and December 31, 2025 only, so no March 31, 2025 balance sheet is available from this filing.

META trailing twelve month income statement and cash flow

2026-03-31
Period start2025-04-01
Period end2026-03-31
DerivationFiscal year 2025 plus the three months ended March 31, 2026, less the three months ended March 31, 2025. Built from the FY2025 10-K (accession 0001628280-26-003942) and the 10-Q for the quarter ended March 31, 2026 (accession 0001628280-26-028526).
Source accessions0001628280-26-003942; 0001628280-26-028526
Figures
Revenue214,963,000,000
Operating income88,593,000,000
Net income70,587,000,000
Operating cash flow124,000,000,000
Capex75,747,000,000
Principal payments on finance leases2,616,000,000
Free cash flow45,637,000,000
Free cash flow excluding finance leases48,253,000,000
Family of apps revenue212,766,000,000
Family of apps operating income107,604,000,000
Reality labs revenue2,197,000,000
Reality labs operating income-19,011,000,000
Margins
Operating margin0.4121
Net margin0.3284

Adjustments

Value
Splits appliednone
Splits noteMeta has never split its common stock, so no per-share figure required split adjustment.
ADR ration/a
FXNone applied. Meta reports in U.S. dollars, so no currency conversion was required.

META derived metrics and ratios

Value
NoteRatios computed from the filed figures above; they are not stated in the filings.
Fy2025
Gross margin0.82
Operating margin0.4144
Net margin0.3008
Effective tax rate0.2964
Capex as percent of revenue0.3468
Net cash position21,664,000,000
Fy2024
Gross margin0.8167
Operating margin0.4218
Net margin0.3791
Effective tax rate0.1175
Capex as percent of revenue0.2265
Fy2023
Gross margin0.8076
Operating margin0.3466
Net margin0.2898
Effective tax rate0.1756
Capex as percent of revenue0.2005
Fy2026 q1
Gross margin0.8185
Operating margin0.4062
Net margin0.4754
Effective tax rate-0.2308
Capex as percent of revenue0.3374
Net cash position22,432,000,000

Notes

  • All annual figures come from the fiscal 2025 Form 10-K (accession 0001628280-26-003942, period ended December 31, 2025), which presents three years of income statement and cash flow data (2025, 2024, 2023) and two years of balance sheet data (2025, 2024). All quarterly figures come from the Form 10-Q for the quarter ended March 31, 2026 (accession 0001628280-26-028526), which presents the current quarter and the prior-year comparative quarter. Only these two filings were used; no earlier annual reports were pulled to extend the history.
  • Meta does not present a gross profit line. The gross profit and gross margin figures shown here are computed as revenue less cost of revenue, using the exact line items on the face of the income statement. Research and development, marketing and sales, and general and administrative are presented as separate operating expense lines and are excluded from cost of revenue.
  • Free cash flow follows Meta's own published definition: net cash provided by operating activities less purchases of property and equipment and less principal payments on finance leases. For fiscal 2025, 2024 and 2023 this reproduces the $43.59 billion, $52.10 billion and $43.01 billion the 10-K reconciles in its liquidity discussion. A second figure, free_cash_flow_excluding_finance_leases, is also provided for readers who prefer the simpler operating cash flow less capital expenditure convention.
  • Total debt is long-term debt (senior unsecured notes, carried at amortized cost) plus finance lease liabilities. As of December 31, 2025 that is $58.744 billion of long-term debt plus $1.184 billion of finance lease liabilities, or $59.928 billion. The aggregate principal amount of the notes outstanding was $59.0 billion at both December 31, 2025 and March 31, 2026; the carrying value differs from principal because of unamortized discount and issuance costs. Operating lease liabilities ($25.153 billion at December 31, 2025 and $28.021 billion at March 31, 2026) are reported separately and are not included in total debt.
  • Finance lease liabilities are not broken out for December 31, 2024 in the fiscal 2025 10-K, and are not broken out at all in the March 31, 2026 10-Q (the 10-Q's balance sheet includes them within accrued expenses and other current liabilities and within other liabilities). For those two dates, total debt therefore equals long-term debt alone and is understated by the finance lease component, which was under $1.2 billion at the nearest date it was disclosed.
  • Fiscal 2025 net income of $60.46 billion fell below fiscal 2024's $62.36 billion even though operating income rose 20% to $83.28 billion. The cause is entirely tax: the provision for income taxes jumped from $8.30 billion to $25.47 billion, an effective rate of 29.6% against 11.8% the prior year, driven by a $15.93 billion discrete charge recognized in the third quarter of 2025 upon enactment of the One Big Beautiful Bill Act.
  • The first quarter of fiscal 2026 shows the mirror image. Meta recorded a benefit for income taxes of $5.02 billion, an effective rate of negative 23%, because U.S. Treasury Notice 2026-7 (issued February 18, 2026) provided Corporate Alternative Minimum Tax relief and Meta recognized an $8.03 billion discrete tax benefit, partially reversing the 2025 charge. Net income of $26.77 billion for the quarter therefore exceeds pretax income of $21.75 billion. Meta stated it expects an effective tax rate of 13% to 16% for the remaining quarters of 2026.
  • The Reality Labs segment continues to lose money at scale: operating losses of $16.12 billion in 2023, $17.73 billion in 2024 and $19.19 billion in 2025 on revenue that has hovered around $2 billion a year. Family of Apps operating income of $102.47 billion in 2025 more than covers it. In the first quarter of fiscal 2026 the Reality Labs loss narrowed 4% year over year to $4.03 billion on lower employee compensation, the first improvement in the series.
  • Capital intensity has stepped up sharply. Purchases of property and equipment rose from $27.05 billion in 2023 to $37.26 billion in 2024 to $69.69 billion in 2025, and reached $19.00 billion in the first quarter of fiscal 2026 alone. Meta funded part of this with $29.9 billion of net proceeds from fixed-rate senior unsecured notes issued in November 2025, which roughly doubled long-term debt. Property and equipment, net grew from $121.35 billion to $176.40 billion during 2025 and to $194.78 billion by March 31, 2026, and construction in progress alone stood at $50.52 billion at year end.
  • Off-balance-sheet infrastructure commitments are large and growing. At December 31, 2025 Meta disclosed roughly $103.77 billion of operating and finance leases signed but not yet commenced; by March 31, 2026 that figure was approximately $182.88 billion. Separately, non-cancelable contractual commitments were $237.67 billion at March 31, 2026, mostly third-party cloud capacity and infrastructure, with a further roughly $24 billion added in April 2026.
  • Meta repurchased no Class A shares during the first quarter of fiscal 2026, against $12.75 billion of repurchases in the prior-year quarter and $26.25 billion for full-year 2025. $25.03 billion remained authorized at March 31, 2026. The quarterly dividend was $0.525 per share in both quarters shown; full-year declared dividends were $2.10 per share in 2025 and $2.00 per share in 2024, with no dividend paid in 2023.
  • The trailing twelve month block covers April 1, 2025 through March 31, 2026 and is arithmetic on the filed periods: fiscal 2025 plus the March 2026 quarter less the March 2025 quarter. It is not a figure either filing states directly.
  • Meta's fiscal year is the calendar year, and no stock splits or currency conversions apply. The company reports in U.S. dollars and its shares trade directly, not as depositary receipts, so no per-share figure required adjustment.
  • Every figure reported here was read from the face of the financial statements in the two filings named above: the FY2025 Form 10-K (accession 0001628280-26-003942) and the Form 10-Q for the quarter ended March 31, 2026 (accession 0001628280-26-028526).

Uncertainties

  • Total debt for December 31, 2024 and March 31, 2026 excludes finance lease liabilities, because those two dates are not broken out in the filings used. The December 31, 2025 finance lease liability was $1.184 billion, so the omission is small relative to $28.8 billion and $58.7 billion of long-term debt respectively, but the two dates are not strictly comparable to the December 31, 2025 total.
  • No balance sheet is reported for December 31, 2023 or March 31, 2025. The fiscal 2025 10-K's balance sheet presents only 2025 and 2024, and the 10-Q's presents only March 31, 2026 and December 31, 2025. The two 2023 balance sheet items included (cash and cash equivalents of $41.862 billion and total stockholders' equity of $153.168 billion) were taken from the cash flow statement's restricted-cash reconciliation and the statements of stockholders' equity respectively, both on the face of the fiscal 2025 10-K.
  • Gross profit and gross margin are derived, not reported. Meta presents no gross profit line, and companies differ in what they place in cost of revenue, so these figures are not directly comparable across companies.
  • The effective tax rates for fiscal 2025 and the first quarter of fiscal 2026 are distorted by one-time legislative items in opposite directions and should not be read as a run rate. The 2025 rate of 29.6% includes a $15.93 billion discrete charge and the first-quarter 2026 rate of negative 23% includes an $8.03 billion discrete benefit.
  • Meta's tax position carries unresolved exposure that the filings quantify but do not resolve: a September 2025 IRS Statutory Notice of Deficiency asserting an additional $15.89 billion in tax plus interest and penalties for the 2017 through 2019 tax years, which Meta is challenging in Tax Court, and a pending Tax Court decision on the 2010 tax year following a May 2025 opinion that valued transferred intellectual property $1.48 billion above what Meta reported. Meta states its accrual is adequate; the outcome is not determinable from the filings.
  • Reality Labs segment figures are revenue and operating income only. Meta's chief operating decision maker does not evaluate segments using asset or liability information, so no segment balance sheet exists in the filings, and segment operating income reflects indirect cost allocations (mostly by headcount, with data center costs allocated by estimated usage) rather than fully standalone economics.
  • No results are available beyond the quarter ended March 31, 2026. The most recent earnings release covered that same quarter, so nothing here comes from a press release rather than a filed periodic report.

Company details

Value
NameMeta Platforms, Inc.
TickerMETA
CIK0001326801
ExchangeNasdaq
StateCalifornia
IncorporationDelaware
SIC7370
OfficeTechnology
IndustryServices-Computer Programming, Data Processing, Etc.

Fiscal period

FY2026
Fiscal year2026
Fiscal periodQ1
TagFY26Q1
Period end2026-03-31
Form10-Q
Accession0001628280-26-028526
Fiscal year end1231
Sourcefacts

FAQ · Meta Platforms financial statements

How much revenue did Meta report in Q1 FY2026?

Meta Platforms reported $56.31 billion in revenue for Q1 FY2026, the quarter ended March 31, 2026. That is up 33.1% from $42.31 billion in the same quarter a year earlier, with advertising supplying substantially all of it.

What was Meta's net income in Q1 FY2026?

Meta Platforms reported net income of $26.77 billion for Q1 FY2026, up 60.9% from $16.64 billion a year earlier. Much of that increase came from a discrete income tax benefit rather than from operations: operating income was $22.87 billion, up 30.3%.

What was Meta's earnings per share in Q1 FY2026?

Meta Platforms reported diluted earnings per share of $10.44 for Q1 FY2026, up 62.4% from $6.43 in the same quarter a year earlier. The same one-time tax benefit that lifted net income lifted earnings per share with it.

How much did Meta spend on capital expenditures in Q1 FY2026?

Meta Platforms spent $19.00 billion on purchases of property and equipment in Q1 FY2026, up 46.8% from $12.94 billion a year earlier, as it built out data center and AI infrastructure capacity. Meta's own capital expenditure measure, the one its guidance is stated on, is larger because it also includes principal payments on finance leases.

Where can I get Meta Platforms, Inc. (META) financial data in machine-readable form?

Ticker Scout publishes Meta Platforms, Inc.'s financial statements as JSON at https://tickerscout.ai/meta/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/meta/narrative.md and https://tickerscout.ai/meta/events.md. Meta Platforms, Inc.'s SEC CIK is 0001326801. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

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How this page was built

This page was built from two of Meta Platforms, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names seven such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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