Companies /Communication Services

Meta Platforms Inc - Class A

NASDAQ: META Internet Content & Information
$648.03
▲ $3.65 (+0.57%) today
Markets closed · 5:49pm ET

Q1 2026 Earnings

Reported Apr 29, 2026, 4:05pm ET · SEC source
$10.44
Beat +56.79%
EPS · est. $6.66
$56.3B
Beat +1.38%
Revenue · est. $55.5B
−8.0%
Trailing market
META vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−4%0+4%Apr 29Apr 30report 4:05pm ETearnings+1.2%−2.6%
−4%0+4%Apr 29Apr 30earnings+1.2%−2.6%
META −2.6%S&P 500 +1.2%
−4%0+4%Apr 29Apr 30report 4:05pm ETearnings+1.1%−2.6%
−4%0+4%Apr 29Apr 30earnings+1.1%−2.6%
META −2.6%NASDAQ +1.1%
−4%0+4%+8%Apr 28May 7report 4:05pm ETearnings+2.8%−2.0%
−4%0+4%+8%Apr 28May 7earnings+2.8%−2.0%
META −2.0%S&P 500 +2.8%
−4%0+4%+8%Apr 28May 7report 4:05pm ETearnings+5.2%−2.0%
−4%0+4%+8%Apr 28May 7earnings+5.2%−2.0%
META −2.0%NASDAQ +5.2%
−8.55%
Day of report
−0.52%
Next session
+0.80%
One week
−2.33%
30 days

S&P 500 over the same 30 days: +5.69%.

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 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

“We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs.”

Meta CEO, on the earnings call

Forward Guidance & Outlook

Meta expects Q2 2026 total revenue of $58–61 billion, with foreign currency providing an approximately 2% tailwind to year-over-year growth. Full-year 2026 total expenses are expected to be $162–169 billion, unchanged from prior guidance. The company continues to expect full-year 2026 operating income above 2025 levels. Capital expenditures (including finance lease payments) are now projected at $125–145 billion for 2026, increased from $115–135 billion, reflecting higher component pricing and additional data center costs. The tax rate for the remaining quarters of 2026 is expected to be 13–16%. The company flagged active legal and regulatory headwinds in the EU and U.S., including youth-related litigation with additional trials scheduled in 2026 that may result in material losses.

META YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$20.0B$40.0B$60.0B$42.3B$56.3BRevenue$17.6B$22.9BOperating Income$16.6B$26.8BNet Income
$0$20.0B$40.0B$60.0BRevenueOperating IncomeNet Income

META Revenue by Segment

Family of Apps$55.9B+33.4%
Advertising$55.0B+33.0%
Reality Labs$402.0M−2.4%

Figures from SEC filings and company reports. Not investment advice.