Form 8-K

8-K — Meta Platforms, Inc.

Accession: 0001628280-26-028364

Filed: 2026-04-29

Period: 2026-04-29

CIK: 0001326801

SIC: 7370 (SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — meta-20260429.htm (Primary)

EX-99.1 (meta-03312026xexhibit991.htm)

GRAPHIC (meta-20260429_g1.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: meta-20260429.htm · Sequence: 1

meta-20260429

0001326801false00013268012026-04-292026-04-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 29, 2026

Meta Platforms, Inc.

(Exact name of registrant as specified in its charter)

Delaware 001-35551 20-1665019

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

1 Meta Way, Menlo Park, California 94025

(Address of principal executive offices and Zip Code)

(650) 543-4800

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A Common Stock, $0.000006 par value META The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 2.02 Results of Operations and Financial Condition.

On April 29, 2026, Meta Platforms, Inc. ("Meta") issued a press release and will hold a conference call regarding its financial results for the quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report.

The information furnished with this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Meta is making reference to non-GAAP financial information in both the press release and the conference call. A reconciliation of GAAP to non-GAAP results is provided in the attached Exhibit 99.1 press release.

Meta uses the investor.atmeta.com and meta.com/news websites as well as Mark Zuckerberg's Facebook profile (facebook.com/zuck), Instagram account (instagram.com/zuck) and Threads profile (threads.net/zuck) as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Exhibit Title or Description

99.1

Press release dated April 29, 2026

104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

META PLATFORMS, INC.

Date: April 29, 2026 By: /s/ Katherine R. Kelly

Name: Katherine R. Kelly

Title: Vice President and Corporate Secretary

EX-99.1

Filename: meta-03312026xexhibit991.htm · Sequence: 2

Document

Meta Reports First Quarter 2026 Results

MENLO PARK, Calif. – April 29, 2026 – Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended March 31, 2026.

"We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs," said Mark Zuckerberg, Meta founder and CEO. "We're on track to deliver personal superintelligence to billions of people."

First Quarter 2026 Financial Highlights

Three Months Ended March 31, % Change

In millions, except percentages and per share amounts 2026 2025

Revenue $ 56,311 $ 42,314 33 %

Costs and expenses 33,439 24,759 35 %

Income from operations $ 22,872 $ 17,555 30 %

Operating margin 41 % 41 %

Provision (benefit) for income taxes (1)

$ (5,021) $ 1,738 NM

Effective tax rate (1)

(23) % 9 %

Net income $ 26,773 $ 16,644 61 %

Diluted earnings per share (EPS) (1)

$ 10.44 $ 6.43 62 %

____________________________________

NM — not meaningful

(1) Includes an $8.03 billion income tax benefit recognized in the first quarter of 2026, which partially offsets the $15.93 billion non-cash tax charge recorded in the third quarter of 2025 upon enactment of the One Big Beautiful Bill Act. This benefit is the result of U.S. Treasury Notice 2026-7, which addressed the Corporate Alternative Minimum Tax treatment of previously capitalized U.S. research and development costs. Excluding this tax benefit, our effective tax rate would have been 37 percentage points higher and our diluted earnings per share (EPS) would have been $3.13 lower.

First Quarter 2026 Operational and Other Financial Highlights

•Family daily active people (DAP) – DAP was 3.56 billion on average for March 2026, an increase of 4% year-over-year. The slight decline in DAP on a quarter-over-quarter basis was driven by internet disruptions in Iran, as well as a restriction on access to WhatsApp in Russia.

•Ad impressions – Ad impressions delivered across our Family of Apps increased by 19% year-over-year.

•Average price per ad – Average price per ad increased by 12% year-over-year.

•Revenue – Revenue was $56.31 billion, an increase of 33% year-over-year. Revenue on a constant currency basis would have increased by 29% year-over-year.

•Costs and expenses – Total costs and expenses were $33.44 billion, an increase of 35% year-over-year.

•Capital expenditures – Capital expenditures, including principal payments on finance leases, were $19.84 billion.

•Capital return program – Dividend and dividend equivalent payments were $1.35 billion.

•Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $81.18 billion as of March 31, 2026.

•Cash flow – Cash flow from operating activities was $32.23 billion, and free cash flow was $12.39 billion.(1)

•Headcount – Headcount was 77,986 as of March 31, 2026, an increase of 1% year-over-year.

____________________________________

(1) For more information on our free cash flow non-GAAP financial measure, see the sections entitled "Non-GAAP Financial Measures" and "Reconciliation of GAAP to Non-GAAP Results" in this press release.

CFO Outlook Commentary

We expect second quarter 2026 total revenue to be in the range of $58-61 billion. Our guidance assumes foreign currency is an approximately 2% tailwind to year-over-year total revenue growth, based on current exchange rates.

We expect full year 2026 total expenses to be in the range of $162-169 billion, unchanged from our prior outlook.

We continue to expect to deliver operating income this year that is above 2025 operating income.

We anticipate 2026 capital expenditures, including principal payments on finance leases, to be in the range of $125-145 billion, increased from our prior range of $115-135 billion. This reflects our expectations for higher component pricing this year and, to a lesser extent, additional data center costs to support future year capacity.

Absent any changes to our tax landscape, we expect our tax rate for the remaining quarters of 2026 to be between 13-16%.

Lastly, we continue to monitor active legal and regulatory matters, including headwinds in the EU and the U.S. that could significantly impact our business and financial results. For example, we continue to see scrutiny on youth-related issues and have additional trials scheduled for this year in the U.S., which may ultimately result in a material loss.

Webcast and Conference Call Information

Meta will host a conference call to discuss its results at 2:30 p.m. PT / 5:30 p.m. ET today. The live webcast of the call can be accessed at the Meta Investor Relations website at investor.atmeta.com, along with the company's earnings press release, financial tables, and slide presentation.

Following the call, a replay will be available at the same website. Transcripts of conference calls with publishing equity research analysts held today will also be posted to the investor.atmeta.com website.

Disclosure Information

About Meta

Meta is building the future of human connection, powered by artificial intelligence and immersive technologies. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward experiences that foster deeper connections and unlock new possibilities.

Contacts

Investors:

Kenneth Dorell

investor@meta.com / investor.atmeta.com

Press:

Matt Tye

press@meta.com / meta.com/news

Forward-Looking Statements

This press release contains forward-looking statements regarding our future business plans and expectations. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: the impact of macroeconomic conditions on our business and financial results, including as a result of geopolitical events; our ability to retain or increase users and engagement levels; our reliance on advertising revenue; our dependency on data signals and mobile operating systems, networks, and standards that we do not control; changes to the content or application of third-party policies that impact our advertising practices; risks associated with new products and changes to existing products as well as other new business initiatives, including our artificial intelligence initiatives and Reality Labs efforts; our emphasis on community growth and engagement and the user experience over short-term financial results; maintaining and enhancing our brand and reputation; our ongoing privacy, safety, security, and content and advertising review and enforcement efforts; competition; risks associated with government actions that could restrict access to our products or impair our ability to sell advertising in certain countries; litigation and government inquiries; privacy, legislative, and regulatory concerns or developments; risks associated with acquisitions; security breaches; our ability to manage our scale and geographically-dispersed operations; and market conditions or other factors affecting capital return to stockholders. 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 Annual Report on Form 10-K filed with the SEC on January 29, 2026, which is available on our Investor Relations website at investor.atmeta.com and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. In addition, please note that the date of this press release is April 29, 2026, and any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.

For a discussion of limitations in the measurement of certain of our community metrics, see the section entitled "Limitations of Key Metrics and Other Data" in our most recent quarterly or annual report filed with the SEC.

Non-GAAP Financial Measures

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (GAAP), we use the following non-GAAP financial measures: revenue excluding foreign exchange effect, advertising revenue excluding foreign exchange effect, and free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In addition, these measures may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures.

We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business.

Our non-GAAP financial measures are adjusted for the following items:

Foreign exchange effect on revenue. To calculate revenue on a constant currency basis, we translate current period revenue using the prior year's monthly exchange rates for our settlement or billing currencies other than the U.S. dollar, which we believe is a useful metric that facilitates comparison to our historical performance.

Purchases of property and equipment; Principal payments on finance leases. We subtract both purchases of property and equipment, and principal payments on finance leases in our calculation of free cash flow because we believe that these two items collectively represent the amount of property and equipment we need to procure to support our business, regardless of whether we procure such property or equipment with a finance lease. We believe that this methodology can provide useful supplemental information to help investors better understand underlying trends in our business. Free cash flow is not intended to represent our residual cash flow available for discretionary expenditures.

For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, see the "Reconciliation of GAAP to Non-GAAP Results" table in this press release.

META PLATFORMS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In millions, except per share amounts)

(Unaudited)

Three Months Ended March 31,

2026 2025

Revenue $ 56,311 $ 42,314

Costs and expenses:

Cost of revenue 10,218 7,572

Research and development 17,699 12,150

Marketing and sales 2,908 2,757

General and administrative 2,614 2,280

Total costs and expenses 33,439 24,759

Income from operations 22,872 17,555

Interest and other income (expense), net (1,120) 827

Income before income taxes 21,752 18,382

Provision (benefit) for income taxes (5,021) 1,738

Net income $ 26,773 $ 16,644

Earnings per share:

Basic $ 10.57 $ 6.59

Diluted $ 10.44 $ 6.43

Weighted-average shares used to compute earnings per share:

Basic 2,534 2,527

Diluted 2,564 2,590

META PLATFORMS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)

March 31, 2026 December 31, 2025

Assets

Current assets:

Cash and cash equivalents $ 23,426 $ 35,873

Marketable securities 57,754 45,719

Accounts receivable, net 17,470 19,769

Prepaid expenses and other current assets 11,115 7,361

Total current assets 109,765 108,722

Non-marketable equity investments 28,410 27,524

Property and equipment, net 194,776 176,400

Operating lease right-of-use assets 23,268 20,404

Goodwill 24,748 24,534

Other assets 14,283 8,437

Total assets $ 395,250 $ 366,021

Liabilities and stockholders' equity

Current liabilities:

Accounts payable $ 13,326 $ 8,894

Operating lease liabilities, current 2,414 2,213

Accrued expenses and other current liabilities 31,013 30,729

Total current liabilities 46,753 41,836

Operating lease liabilities, non-current 25,607 22,940

Long-term debt 58,748 58,744

Long-term income taxes 16,849 21,005

Other liabilities 3,612 4,253

Total liabilities 151,569 148,778

Commitments and contingencies

Stockholders' equity:

Common stock and additional paid-in capital 99,337 95,793

Accumulated other comprehensive income (loss) (303) 271

Retained earnings 144,647 121,179

Total stockholders' equity 243,681 217,243

Total liabilities and stockholders' equity $ 395,250 $ 366,021

META PLATFORMS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Three Months Ended March 31,

2026 2025

Cash flows from operating activities

Net income $ 26,773 $ 16,644

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization 5,999 3,900

Share-based compensation 6,032 4,147

Deferred income taxes 123 (993)

Unrealized (gain) loss on equity investments 1,075 (135)

Other (17) (96)

Changes in assets and liabilities:

Accounts receivable 2,128 2,804

Prepaid expenses and other current assets (2,424) 360

Other assets (1,082) (52)

Accounts payable (937) (1,034)

Accrued expenses and other current liabilities (271) (2,231)

Other liabilities (5,173) 712

Net cash provided by operating activities 32,226 24,026

Cash flows from investing activities

Purchases of property and equipment (18,997) (12,941)

Purchases of marketable securities (32,978) (11,763)

Sales and maturities of marketable securities 19,176 4,784

Purchases of non-marketable equity investments (544) (100)

Payments for held-for-sale assets (118) —

Acquisitions of businesses and intangible assets (372) (1)

Other investing activities 155 11

Net cash used in investing activities (33,678) (20,010)

Cash flows from financing activities

Taxes paid related to net share settlement of equity awards (4,423) (4,883)

Repurchases of Class A common stock — (12,754)

Payments for dividends and dividend equivalents (1,346) (1,329)

Principal payments on finance leases (843) (751)

Other financing activities 59 222

Net cash used in financing activities (6,553) (19,495)

Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents 7 112

Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents (7,998) (15,367)

Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of the period 39,100 45,438

Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of the period $ 31,102 $ 30,071

Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the condensed consolidated balance sheets

Cash and cash equivalents $ 23,426 $ 28,750

Restricted cash and restricted cash equivalents, included in prepaid expenses and other current assets 340 71

Restricted cash and restricted cash equivalents, included in other assets 7,336 1,250

Total cash, cash equivalents, restricted cash, and restricted cash equivalents $ 31,102 $ 30,071

Supplemental cash flow data

Cash paid for income taxes, net $ 541 $ 448

Segment Results

We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes our virtual and augmented reality related consumer hardware, software, and content.

The following table sets forth our segment information of revenue and income (loss) from operations:

Segment Information

(In millions)

(Unaudited)

Three Months Ended March 31,

2026 2025

Revenue:

Advertising $ 55,024 $ 41,392

Other revenue 885 510

Family of Apps 55,909 41,902

Reality Labs 402 412

Total revenue $ 56,311 $ 42,314

Income (loss) from operations:

Family of Apps $ 26,900 $ 21,765

Reality Labs (4,028) (4,210)

Total income from operations $ 22,872 $ 17,555

Reconciliation of GAAP to Non-GAAP Results

(In millions, except percentages)

(Unaudited)

Three Months Ended March 31,

2026 2025

GAAP revenue $ 56,311 $ 42,314

Foreign exchange effect on 2026 revenue using 2025 rates (1,749)

Revenue excluding foreign exchange effect $ 54,562

GAAP revenue year-over-year change % 33 %

Revenue excluding foreign exchange effect year-over-year change % 29 %

GAAP advertising revenue $ 55,024 $ 41,392

Foreign exchange effect on 2026 advertising revenue using 2025 rates (1,734)

Advertising revenue excluding foreign exchange effect $ 53,290

GAAP advertising revenue year-over-year change % 33 %

Advertising revenue excluding foreign exchange effect year-over-year change % 29 %

Net cash provided by operating activities $ 32,226 $ 24,026

Purchases of property and equipment (18,997) (12,941)

Principal payments on finance leases (843) (751)

Free cash flow $ 12,386 $ 10,334

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Cover Page

Apr. 29, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

Apr. 29, 2026

Entity Registrant Name

Meta Platforms, Inc.

Entity Incorporation, State or Country Code

Entity File Number

001-35551

Entity Tax Identification Number

20-1665019

Entity Address, Address Line One

1 Meta Way

Entity Address, City or Town

Menlo Park

Entity Address, State or Province

Entity Address, Postal Zip Code

94025

City Area Code

650

Local Phone Number

543-4800

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Class A Common Stock, $0.000006 par value

Trading Symbol