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Full earnings analysis

Research updated: Jul 11, 2026, 12:00 AM UTC

Meta Platforms (META) Q1 FY2026

Meta reported results for the quarter ended March 31, 2026, with Family of Apps advertising growth alongside a higher planned level of AI infrastructure investment.

Reported outcomes

Revenue
$56.31 billion
Up 33% year over year
Income from operations
$22.87 billion
Up 30% year over year
Diluted EPS
$10.44
Up 62% year over year; included a company-disclosed income tax benefit
Family of Apps ad impressions
+19%
Year-over-year increase

Management guidance

  • Meta expected Q2 2026 revenue of $58-$61 billion and raised its 2026 capital-expenditure range to $125-$145 billion.

Risks that still need monitoring

  • AI investment returns

    Rapidly rising AI infrastructure spending could pressure free cash flow and returns if monetization develops slowly.

  • Regulatory and litigation exposure

    EU and U.S. regulatory proceedings, including youth-related litigation, could materially affect operations or financial results.

  • Advertising and platform dependency

    Meta remains highly dependent on advertising and on mobile platforms and data signals it does not control.

Market reaction

-8.85%

2026-04-28 $671.34 → 2026-04-30 $611.91

Method: previous trading-day close to the first full trading-day close after the announcement.

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Primary sources

Meta Reports First Quarter 2026 ResultsMeta Platforms, Inc. · earningsVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

Published: Apr 29, 2026, 08:00 PM

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Meta Investor RelationsMeta Platforms, Inc. · companyVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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Meta Platforms Form 10-Q for the quarter ended March 31, 2026U.S. Securities and Exchange Commission · filingVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

Published: May 1, 2026, 12:00 AM

Open original source
META editorial research profileAlphaVue Research · editorialVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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