Meta (META) Q3 2025 Earnings
How Did META Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +0.25%.
Did META Beat Earnings? Q3 2025 Results
Yes. Meta reported Q3 2025 earnings of $7.25 a share on Oct 29, 2025, beating the $6.70 consensus estimate by 8.2%. Revenue was $51.2B against a $49.4B estimate.
Meta Platforms delivered a strong third quarter, posting adjusted diluted EPS of $7.25, beating the $6.70 consensus estimate by 8.20%, while revenue of $51.24 billion topped expectations by 3.75% and climbed 26.3% year over year. The headline GAAP figures were heavily distorted by a $15.93 billion non-cash tax charge tied to the One Big Beautiful Bill Act, compressing reported net income to just $2.71 billion, but the underlying business showed little sign of strain. Advertising revenue of $50.08 billion, fueled by a 14% rise in ad impressions and a 10% increase in average price per ad, drove the bulk of the outperformance, while the Family of Apps segment contributed $24.97 billion in operating income. Capital expenditures surged to $19.37 billion in the quarter alone, and management raised its full-year capex outlook to $70 to $72 billion, with 2026 spending expected to grow "notably larger," a commitment that has drawn scrutiny from critics questioning how aggressively the industry is accounting for the rapid obsolescence of AI hardware. Looking ahead, Meta guided Q4 revenue to $56 to $59 billion.
- Ad impressions delivered across Family of Apps increased by 14% year-over-year
- Average price per ad increased by 10% year-over-year
- Family daily active people (DAP) grew 8% year-over-year to 3.54 billion
- Continued strong advertising revenue growth of 26% year-over-year
“We had a strong quarter for our business and our community. Meta Superintelligence Labs is off to a great start and we continue to lead the industry in AI glasses. If we deliver even a fraction of the opportunity ahead, then the next few years will be the most exciting period in our history.”
Meta CEO, on the earnings call
What Was Meta's Outlook in Q3 2025?
Meta expects Q4 2025 total revenue of $56-59 billion, with foreign currency providing an approximately 1% tailwind. The outlook reflects continued strong ad revenue growth, partially offset by lower year-over-year Reality Labs revenue due to lapping the Q4 2024 Quest 3S launch and Q3 pre-holiday channel inventory builds. Full-year 2025 total expenses are expected at $116-118 billion (raised from prior $114-118 billion), with capital expenditures of $70-72 billion (raised from $66-72 billion). Q4 2025 tax rate is expected at 12-15% absent tax landscape changes. For 2026, management expects capital expenditure dollar growth to be notably larger than 2025, and total expenses to grow at a significantly faster percentage rate driven by infrastructure costs (including cloud and depreciation) and employee compensation. Meta expects investments will enable continued strong revenue growth in 2026. Management flagged potential regulatory risks in the EU related to Less Personalized Ads that could negatively impact European revenue as early as Q4 2025, and U.S. youth-related trials in 2026 that may result in material losses.
META YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $51.2B | $40.6B | +26.3% |
| Gross Profit | $42.0B | $33.2B | +26.6% |
| Operating Income | $20.5B | $17.3B | +18.4% |
| Net Income | $2.7B | $15.7B | −82.7% |
META Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.