Meta reported Q4 2025 revenue of $59.9 billion (+24% YoY) and EPS of $8.88, beating analyst expectations. For the full year 2025, revenue grew 22% to $201.0 billion. The company saw strong advertising performance, with Q4 ad impressions up 18% and average price per ad increasing 6%.
Key Highlights
- Looking ahead, Meta guided for a significant increase in spending, with full-year 2026 capital expenditures expected in the range of $115-135 billion, a substantial step up from $72.2 billion in 2025, driven by AI infrastructure investments.
- Operating margin in Q4 compressed to 41% from 48% a year prior, as total costs and expenses surged 40% year-over-year to $35.1 billion, outpacing revenue growth.
- The Reality Labs segment recorded an operating loss of $6.0 billion for the quarter, widening from a $5.0 billion loss in the prior year, bringing the full-year 2025 loss for the segment to $19.2 billion.