Meta Platforms

Capital expenditures Capital expenditures, including principal payments on finance leases, were $19.37 billion.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Capital return program Share repurchases of our Class A common stock were $3.16 billion and total dividend and dividend equivalent payments were $1.33 billion.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

We currently expect 2025 capital expenditures, including principal payments on finance leases, to be in the range of $70-72 billion, increased from our prior outlook of $66-72 billion.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

We anticipate this will provide further upward pressure on our capital expenditures and expense plans next year.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

As a result, our current expectation is that capital expenditures dollar growth will be notably larger in 2026 than 2025.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to loss contingencies, income taxes, valuation of non-marketable equity investments, valuation of long-lived assets and their associated estimated useful lives, revenue recognition, valuation of goodwill, credit losses of available-for-sale debt securities, accounts receivable, and fair value of financial instruments and leases.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026

We expect the set of investments we are making within our ads and organic engagement initiatives next year will enable us to continue to deliver strong revenue growth in 2026, while our progress on AI models and products will position us to capitalize on new revenue opportunities in the years to come.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Employee compensation costs will be the second largest contributor to growth, as we recognize a full year of compensation for employees hired throughout 2025, particularly AI talent, and add technical talent in priority areas.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026

We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026

In the fourth quarter of 2025, we made certain updates to the methodology we use for this estimation, including to incorporate updated data signals as a result of improvements in our ability to identify activity we believe to be violating our policies, as well as to focus on the most recent account activity when determining whether to include a person in our violating accounts estimation.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026

Finally, we continue to monitor active legal and regulatory matters, including the increasing headwinds in the EU and the U.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed under the caption Risk Factors in our Quarterly Report on Form 10-Q filed with the SEC on July 31, 2025, which is available on our Investor Relations website at investor.

SEC original ↗Meta Platforms — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Legal Proceedings 53 Item 1A.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026

These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in Part II, Item 1A, "Risk Factors" in this Quarterly Report on Form 10-Q.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026

In light of these risks, uncertainties and assumptions, the future events and trends discussed in this Quarterly Report on Form 10-Q may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward looking statements.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026

Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward looking statements.

SEC original ↗Meta Platforms — 10-Q Quarterly report10-QOct 22, 2026