Meta Platforms reports third-quarter results today: what the company forecast
Oct 21, 2026
Meta Platforms (NASDAQ: META) is scheduled to report its third-quarter 2026 results after the US market close on Wednesday, October 21, 2026.
What Meta forecast
In its second-quarter results in July, filed with the US Securities and Exchange Commission (SEC), Meta forecast:
- third-quarter revenue of $61 billion to $64 billion, assuming foreign currency is a headwind of about 1% to year-over-year growth
- full-year 2026 total expenses of $165 billion to $169 billion, with the low end raised to include $2.4 billion of legal charges in the second quarter
- full-year 2026 capital expenditures, including principal payments on finance leases, of $130 billion to $145 billion, narrowed from $125 billion to $145 billion
- full-year 2026 operating income above the 2025 level
- a tax rate of 15% to 17% for the remaining quarters of 2026
In the third quarter of 2025, Meta reported revenue of $51.24 billion.
What Meta reported in the second quarter
For the second quarter of 2026, Meta reported:
- revenue of $60.8 billion, up 28% from a year earlier
- an operating margin of 31%, compared with 43% a year earlier
- net income of $15.8 billion, down 14%
- diluted earnings of $6.18 per share, down 13%
- capital expenditures, including principal payments on finance leases, of $31.1 billion
- family daily active people of 3.60 billion on average in June, up 3%
- ad impressions up 14% and the average price per ad up 12%
At the end of June, Meta had 75,472 employees, down 1% from a year earlier.
What investors will look at
Key items in today's report are likely to include revenue compared with the company's forecast, advertising trends, operating margin, capital spending on data centres and AI infrastructure, and the outlook for the fourth quarter. Investors may also look for any update to Meta's 2026 expense and capital expenditure ranges and early comments on 2027.
How Meta makes money
Almost all of Meta's revenue comes from advertising on its apps, which include Facebook, Instagram, Messenger and WhatsApp. Advertising revenue depends mainly on the number of ads shown, measured by ad impressions, and the price advertisers pay for them. Meta also has a Reality Labs segment, which develops virtual reality headsets, smart glasses and related products and has reported operating losses for several years.
Why capital spending is in focus
Meta, like other large technology companies, is spending heavily on data centres, chips and other infrastructure to develop and run AI models. Its forecast range for 2026 is much higher than in previous years. Higher spending can support future products and services, but it also increases depreciation costs and reduces free cash flow in the short term, so investors follow the balance between investment and returns closely.
The second quarter in context
Meta's second-quarter revenue grew faster than in the same period a year earlier, while its operating margin was lower and total expenses, including the legal charges, increased. Net income and earnings per share were also lower than a year earlier. Comparing the third-quarter results with the company's own forecast is one way investors assess its progress.
How to follow the results
Meta publishes its results and a conference call on its investor relations website. Share prices can move significantly in after-hours trading following quarterly reports.
Risks and uncertainties
Company forecasts reflect current expectations, and actual results may differ. Meta's results can be affected by advertising demand, competition, regulation, legal proceedings and the cost of its AI investments. Technology shares can be volatile around earnings reports.
What this means for investors
For Investing.one users following META, today's results and any updated outlook may be relevant. The figures above are company forecasts and previously reported results.
Sources
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