Meta 三季度营收增长 26%，董事会批准无投票权 C 类股
Meta 于 10 月 21 日发布截至 9 月 30 日的三季度财报。
Meta Platforms reported financial results for the third quarter ended September 30, 2026, on October 21, 2026, posting revenue of $64.6 billion, up 26% from a year earlier, and announcing that its Board of Directors approved a new class of publicly listed, non-voting Class C common stock.
“We hit major milestones this quarter toward delivering personal superintelligence for everyone – including launching Muse and Muse Wonder, our first frontier model,” Mark Zuckerberg, Meta founder and CEO, said in the company’s third-quarter 2026 results release.
Zuckerberg added that the company’s investments are paying off, described the core business as strong, and said Meta is seeing velocity across the board.
Total costs and expenses were $51.61 billion, up 68% year over year, a figure that includes a litigation charge recorded in general and administrative expenses.Income from operations was $12.99 billion, down 37%, and operating margin was 20%, compared with 40% in the third quarter of 2025.
Net income rose 264% to $9.86 billion, while diluted earnings per share rose 265% to $3.83 from $1.05.The effective tax rate was 24%, compared with 87% a year earlier.
In August 2026, Meta announced an agreement with 52 U.S.state attorneys general to resolve litigation related to teen mental health and social media, which provides for payments of up to approximately $18.59 billion.
Third-quarter costs include a $9.89 billion charge related to that agreement.Meta said that excluding the charge, quarterly income from operations would have been $22.88 billion, diluted EPS would have been $7.40, and the effective tax rate would have been 17%.
Family daily active people averaged 3.64 billion for September 2026, an increase of 3% year over year. Ad impressions delivered across the company’s Family of Apps rose 10%, and the average price per ad rose 14%.
Capital expenditures, including principal payments on finance leases, were $34.91 billion.Cash flow from operating activities was $32.79 billion, and free cash flow was negative $2.12 billion.Cash, cash equivalents, and marketable securities were $82.45 billion as of September 30, 2026, and dividend and dividend-equivalent payments were $1.36 billion.
Headcount was 66,775, down 15% year over year.
By segment, Family of Apps revenue was $64.16 billion with operating income of $17.12 billion, and advertising revenue within the segment was $63.06 billion. Reality Labs, which covers the company’s virtual and augmented reality consumer hardware, software, and content, posted revenue of $443 million and an operating loss of $4.13 billion.
Meta said it would host a conference call to discuss the results at 1:30 p.m. Pacific Time on October 21, 2026, with a replay and transcripts to be posted to its investor relations website.
Meta said it expects fourth-quarter 2026 total revenue in a range of $73 billion to $76 billion, guidance that assumes foreign currency is roughly a 1% headwind to year-over-year revenue growth at current exchange rates.
The company raised its full-year 2026 expense outlook to $175 billion to $179 billion to incorporate the legal charge, and said that excluding the charge it continues to expect 2026 operating income above its 2025 level.
The company narrowed its 2026 capital-expenditure outlook, including principal payments on finance leases, to $135 billion to $145 billion, from a prior range of $130 billion to $145 billion.Meta said it expects Reality Labs losses of $18 billion to $19 billion for 2026, a decline from 2025, and expects those losses to narrow to around $15 billion in 2027 as investment is reallocated toward other priority areas, primarily AI.
Absent changes to its tax landscape, Meta expects a fourth-quarter 2026 tax rate of 15% to 17%.
Meta said it continues to monitor active legal and regulatory matters that could significantly affect its business and financial results, noting scrutiny of youth-related issues in several markets and a number of youth-related trials it said are scheduled in the coming months in the United States.
Looking beyond 2026, Meta said it is still developing its budget and capacity plans for 2027 but expects to continue investing aggressively to support both its core business and emerging AI initiatives.
The company said its AI investments are already delivering substantial incremental advertising revenue through stronger engagement, better recommendations, and more efficient monetization, and that its MSL investments are creating the technology and infrastructure needed to unlock significant new revenue opportunities.
Meta said it is not providing a full-year 2027 revenue outlook, adding that the benefits its AI investments are delivering to the core business, combined with emerging opportunities from model advances and product launches, position it to sustain strong overall revenue growth throughout 2027.
The Class C approval followed the unanimous recommendation of a Special Committee of disinterested and independent d