META Q2 2026 Earnings

Call Details

• Call Title: Meta Q2 2026 Earnings Call
• Date: July 29, 2026 at 8:30 PM UTC
• Management Team:
  • Chad Heaton (Vice President of Finance)
  • Mark Zuckerberg (Chief Executive Officer)
  • Susan Li (Chief Financial Officer)

Call Summary

Financial Performance

• Q2 total revenue was $60.8 billion, up 28% year-over-year or up 27% on a constant currency basis.
• Q2 total family of apps revenue was $60.4 billion, up 28% year-over-year, and family of apps ad revenue was $59.4 billion, up 27% year-over-year or up 26% on a constant currency basis.
• Q2 consolidated expenses were $42 billion, up 55% year-over-year and included $2.4 billion of legal charges and $1.2 billion of severance related to May 2026 headcount reductions.
• Second quarter GAAP operating income was $18.8 billion, representing an 8% decline year-over-year and a 31% operating margin.
• Excluding Q2 legal charges and severance, operating income would have increased 9% year-over-year.
• Net income for Q2 was $15.8 billion, or $6.18 per share, and the quarter tax rate was 16%.
• Capital expenditures in Q2, including principal payments on finance leases, were $31.1 billion, and free cash flow was $784 million.
• Cash and marketable securities ended the quarter at $90.3 billion versus $83.7 billion in debt on the balance sheet.

Guidance

• Third quarter 2026 total revenue is expected to be in the range of $61 to $64 billion.
• Guidance assumes foreign currency is an approximately 1% headwind to year-over-year total revenue growth for Q3 based on current exchange rates.
• Full year 2026 total expenses outlook was raised and now is expected to be in the range of $165 to $169 billion.
• The company continues to expect 2026 operating income to be above 2025 operating income.
• 2026 capital expenditures are expected to be in the range of $130 to $145 billion, narrowed from the prior outlook of $125 to $145 billion.
• The expected tax rate for the remaining quarters of 2026 is between 15% to 17% absent changes to the tax landscape.