Overview
- Meta reported $51.2 billion in Q3 revenue and $2.71 billion in net income after a one-time, non-cash $15.9 billion tax charge.
- Capital expenditures are guided to $70–72 billion in 2025, with CFO Susan Li signaling a notably larger outlay and faster overall expense growth in 2026.
- Reality Labs posted a $4.4 billion operating loss on $470 million in sales, with cumulative losses since late 2020 topping $70 billion.
- Meta expects lower year-over-year Reality Labs revenue in Q4 due to retailer pull-forward of Quest headsets and no new Quest launch, even as AI glasses demand accelerates.
- Shares fell about 8–9% after-hours; Q4 revenue is guided to $56–59 billion, and Mark Zuckerberg said excess AI compute can be redirected to the core ad business if advanced AI timelines slip.