Q1 26 EPS
$10.44
BEAT +56.79%
Est. $6.66
Q1 26 Revenue
$56.31B
BEAT +1.38%
Est. $55.55B
vs S&P Since Q1 26
-24.7%
TRAILING MARKET
META -18.1% vs S&P +6.5%
Market Reaction
Did META Beat Earnings? Q1 2026 Results
Meta Platforms delivered a blowout first quarter for fiscal 2026, posting earnings per share of $10.44 against a consensus estimate of $6.66, a beat of 56.79% that extended the company's streak of exceeding EPS expectations to five consecutive quarte… Read more Meta Platforms delivered a blowout first quarter for fiscal 2026, posting earnings per share of $10.44 against a consensus estimate of $6.66, a beat of 56.79% that extended the company's streak of exceeding EPS expectations to five consecutive quarters. Revenue climbed 33.1% year-over-year to $56.31 billion, edging past the $55.56 billion consensus, fueled by a 19% surge in ad impressions and a 12% rise in average price per ad across its Family of Apps, where daily active people reached 3.56 billion. The outsized EPS figure was substantially shaped by an $8.03 billion income tax benefit tied to U.S. Treasury guidance on Corporate Alternative Minimum Tax treatment of capitalized R&D costs, which pushed the effective tax rate to -23% and added $3.13 per share to the bottom line. Reality Labs continued to weigh on results with a $4.03 billion operating loss, though that narrowed modestly from a year ago. Looking ahead, Meta guided Q2 2026 revenue to $58 to $61 billion and raised its full-year capital expenditure outlook to $125 to $145 billion, reflecting accelerating infrastructure investment as competition in AI intensifies across the sector.
Key Takeaways
- • Ad impressions increased 19% year-over-year across Family of Apps
- • Average price per ad increased 12% year-over-year
- • Family daily active people grew 4% year-over-year to 3.56 billion
- • $8.03 billion income tax benefit from U.S. Treasury Notice 2026-7 addressing Corporate Alternative Minimum Tax treatment of R&D costs
- • Foreign currency provided approximately 4 percentage points of revenue growth tailwind
META YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
META Revenue by Segment
With YoY comparisons, source: SEC Filings
“We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs.”
— Mark Zuckerberg, Q1 2026 Earnings Press Release
META Earnings Trends
META vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
META EPS Trend
Earnings per share: estimate vs actual
META Revenue Trend
Quarterly revenue: estimate vs actual
META Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $7.22 | $6.18 | -14.37% | $60.80B | +0.85% |
| Q1 26 BEAT | $6.66 | $10.44 | +56.79% | $56.31B | +1.38% |
| Q4 25 BEAT FY | $8.22 | $8.88 | +8.00% | $59.89B | +2.43% |
| FY Full Year | — | $23.49 | — | $200.97B | — |
| Q3 25 BEAT | $6.70 | $7.25 | +8.20% | $51.24B | +3.75% |
| Q2 25 BEAT | $5.90 | $7.14 | +20.97% | $47.52B | +5.98% |
| Q1 25 BEAT | $5.22 | $6.43 | +23.11% | $42.31B | +2.30% |
| Q4 24 BEAT FY | $6.76 | $8.02 | +18.67% | $48.39B | +2.96% |
| FY Full Year | — | $23.86 | — | $164.50B | — |
| Q3 22 MISS | $1.89 | $1.64 | -13.23% | $27.71B | +1.12% |