Meta Platforms (META) META quarter Financial Results Summary
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Meta Platforms Inc. (META) Q4 2025 Financial Results Summary
On January 28, 2026, Meta Platforms, Inc. (Nasdaq: META) reported its financial results for the fourth quarter and full year ended December 31, 2025. Below is a summary of the highlights from the report.
Financial Highlights
Fourth Quarter 2025
- Revenue:
- $59.89 billion, up 24% from $48.39 billion in Q4 2024.
- Costs and Expenses:
- $35.15 billion, up 40% from $25.02 billion in Q4 2024.
- Income from Operations:
- $24.75 billion, up 6% from $23.37 billion in Q4 2024.
- Operating Margin:
- 41%, down from 48% in Q4 2024.
- Net Income:
- $22.77 billion, up 9% from $20.84 billion in Q4 2024.
- Diluted Earnings Per Share (EPS):
- $8.88, up 11% from $8.02 in Q4 2024.
- Effective Tax Rate:
- 10%, down from 12% in Q4 2024.
Full Year 2025
- Revenue:
- $200.97 billion, up 22% from $164.50 billion in 2024.
- Costs and Expenses:
- $117.69 billion, up 24% from $95.12 billion in 2024.
- Income from Operations:
- $83.28 billion, up 20% from $69.38 billion in 2024.
- Net Income:
- $60.46 billion, down 3% from $62.36 billion in 2024.
- Diluted EPS:
- $23.49, down 2% from $23.86 in 2024.
Operational Highlights
- Family Daily Active People (DAP):
- 3.58 billion on average for December 2025, up 7% year-over-year.
- Ad Impressions:
- Increased by 18% in Q4 and 12% for full year 2025 compared to previous year.
- Average Price Per Ad:
- Increased by 6% in Q4 and 9% for the full year 2025 year-over-year.
- Cash Flow from Operating Activities:
- $36.21 billion in Q4, up from $27.99 billion in Q4 2024; full year $115.80 billion, up from $91.33 billion in 2024.
Capital Expenditures
- Capital Expenditures:
- $22.14 billion in Q4 and $72.22 billion for the full year.
Capital Return Program
- Share Repurchases:
- $nil for Q4; $26.26 billion for the full year.
- Dividends:
- $1.34 billion for Q4; $5.32 billion for the full year.
Balance Sheet Highlights
- Cash, Cash Equivalents, and Marketable Securities:
- $81.59 billion as of December 31, 2025.
- Long-term Debt:
- $58.74 billion as of December 31, 2025.
- Headcount:
- 78,865 as of December 31, 2025, up 6% year-over-year.
2026 Outlook
- Q1 2026 Total Revenue Guidance:
- Expected to be in the range of $53.5 billion to $56.5 billion, factoring in a 4% tailwind from foreign currency.
- Full Year 2026 Total Expenses Guidance:
- Expected to be in the range of $162 billion to $169 billion.
- 2026 Capital Expenditures:
- Expected between $115 billion and $135 billion.
- Tax Rate:
- Anticipated to be between 13% and 16% for the full year.
Regulatory and Legal Risks
- Anticipation of ongoing legal and regulatory headwinds that could significantly impact financial results, particularly in the EU and U.S.
Meta concluded the announcement with a commitment to transparency and ongoing engagement with stakeholders, indicating an upcoming conference call for further discussions on the results.
| Three Months Ended December 31, | Twelve Months Ended December 31. | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $59,893 | $48,385 | $200,966 | $164,501 |
| Costs and expenses: | ||||
| Cost of revenue | 10,905 | 8,839 | 36,175 | 30,161 |
| Research and development | 17,136 | 12,180 | 57,372 | 43,873 |
| Marketing and sales | 3,410 | 3,240 | 11,991 | 11,347 |
| General and administrative | 3,697 | 761 | 12,152 | 9,740 |
| Total costs and expenses | 35,148 | 25,020 | 117,690 | 95,121 |
| Income from operations | 24,745 | 23,365 | 83,276 | 69,380 |
| Interest and other income, net | 609 | 188 | 2,656 | 1,283 |
| Income before provision for income taxes | 25,354 | 23,553 | 85,932 | 70,663 |
| Provision for income taxes | 2,586 | 2,715 | 25,474 | 8,303 |
| Net income | 22,768 | 20,838 | 60,458 | 62,360 |
| Earnings per share: | ||||
| Basic | $9.02 | $8.24 | $23.98 | $24.61 |
| Diluted | $8.88 | $8.02 | $23.49 | $23.86 |
| Weighted-average shares used to compute earnings per share: | ||||
| Basic | 2,525 | 2,529 | 2,521 | 2,534 |
| Diluted | 2,565 | 2,599 | 2,574 | 2,614 |
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $35,873 | $43,889 |
| Marketable securities | 45,719 | 33,926 |
| Accounts receivable, net | 19,769 | 16,994 |
| Prepaid expenses and other current assets | 7,361 | 5,236 |
| Total current assets | 108,722 | 100,045 |
| Non-marketable equity investments | 27,524 | 6,070 |
| Property and equipment, net | 176,400 | 121,346 |
| Operating lease right-of-use assets | 20,404 | 14,922 |
| Goodwill | 24,534 | 20,654 |
| Other assets | 8,437 | 13,017 |
| Total assets | $366,021 | $276,054 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | $8,894 | $7,687 |
| Operating lease liabilities, current | 2,213 | 1,942 |
| Accrued expenses and other current liabilities | 30,729 | 23,967 |
| Total current liabilities | 41,836 | 33,596 |
| Operating lease liabilities, non-current | 22,940 | 18,292 |
| Long-term debt | 58,744 | 28,826 |
| Long-term income taxes | 21,005 | 9,987 |
| Other liabilities | 4,253 | 2,716 |
| Total liabilities | 148,778 | 93,417 |
| Commitments and contingencies | ||
| Stockholders’ equity: | ||
| Common stock and additional paid-in capital | 95,793 | 83,228 |
| Accumulated other comprehensive income (loss) | 271 | -3,097 |
| Retained earnings | 121,179 | 102,506 |
| Total stockholders’ equity | 217,243 | 182,637 |
| Total liabilities and stockholders’ equity | $366,021 | $276,054 |