Meta Platforms, Inc. Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Financial Highlights (YoY Comparisons to Q3 2025)

  • Total Revenue: $64.6 billion, +26% (reported and constant currency basis).
  • Family of Apps Revenue: $64.2 billion, +26%.
  • Family of Apps Ad Revenue: $63.1 billion, +26% (reported and constant currency); ad impressions +10%, average price per ad +14%.
  • Reality Labs Revenue: $443 million, -6% (lower Quest sales offset by AI glasses growth).
  • Total Expenses: $51.6 billion, +68% (includes $9.9 billion multistate attorneys general legal charge; driven by legal costs, infrastructure, and third-party AI token costs).
  • GAAP Operating Income: $13 billion, -37% (20% margin); excluding legal charge, +11% YoY.
  • Net Income: $9.9 billion ($3.83 per share).
  • CapEx (incl. finance leases): $34.9 billion (servers, data centers, network).
  • Free Cash Flow: -$2.1 billion.
  • Cash & Marketable Securities: $82.4 billion; Debt: $83.7 billion.
  • Employees: ~66,000, -12% from Q2 2026 (post-May headcount reduction).

Key Business & Product Updates

  • Family of Apps daily users: 3.64 billion; all-time highs in engagement on Facebook and Instagram (video/Reels driven); Threads overtook X in monthly actives; WhatsApp at all-time highs.

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Operator: Good afternoon. My name is Krista, and I will be your conference operator. Today. At this time, I would like to welcome everyone to Meta's Third Quarter 26 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. We ask that you limit yourself to 1 question. And this call will be recorded. Thank you very much. Rob, Bevagni, Meta's Director of Investor Relations, you may begin. Mark Elliot Zuckerberg: Thank you. Good afternoon, and welcome to Meta Platform's third quarter 26 Earnings Conference Call. Joining me today to discuss our results are Mark Elliot Zuckerberg, CEO and Susan J. Li, CFO. Our remarks today will include forward-looking statements, which are based on assumptions as of today. Actual results may differ materially as a result of various factors, including those set forth in today's earnings press release and in our quarterly report on Form 10 Q filed with the SEC. We undertake no obligation to update any forward-looking statement. During this call, we will present both GAAP and certain non GAAP financial measures. A reconciliation of GAAP to non GAAP measures is included in today's earnings press release. Earnings press release and an accompanying investor presentation are available on our website at [email protected]. And now, I would like to turn the call over to Mark. Alright. Hey, everyone. Thanks for joining today. This has been a busy and

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