Meta Platforms Reports First-Quarter Results
Meta Platforms (NASDAQ: META) reported a 33% year-over-year revenue growth for the first quarter of 2026, totaling $56.3 billion—the fastest growth since 2021. However, the company’s stock has decreased approximately 10% following the earnings update due to an increased capital expenditure forecast for 2026, now set between $125 billion and $145 billion.
For the second quarter, Meta projects revenue of $58 billion to $61 billion, implying a year-over-year growth of about 25%. This forecast includes a roughly 2% tailwind from foreign currency, suggesting a potential deceleration in constant-currency revenue growth from 29% to around 23%—a notable drop within a single quarter. Operating income rose 30% to $22.9 billion, maintaining an operating margin of 41%.
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