Meta Platforms reported robust fourth-quarter and full-year 2025 financial results on January 28, 2026, delivering a significant beat on revenue and earnings that exceeded analyst expectations while reaffirming its strategic focus on artificial intelligence and long-term growth.
According to the company’s official press release, Meta generated $59.89 billion in revenue for the fourth quarter, up 24 % year-over-year from $48.39 billion, and $200.97 billion for the full year, a 22 % increase compared with 2024. Meta also reported diluted earnings per share (EPS) of $8.88 for the quarter, compared with $8.02 in the prior year period and comfortably above consensus estimates.
Meta’s operating performance was supported by strong demand for digital advertising across its family of applications, including Facebook, Instagram, WhatsApp and Threads, as advertisers responded positively to improvements in targeting and measurement powered by AI enhancements.
Daily engagement across Meta’s platforms remained high, with average daily active people (DAP) reaching 3.58 billion in December 2025, an increase of approximately 7 % year-over-year, the company said. Ad impressions delivered across its family of apps grew 18 % in the quarter and 12 % for the full year, while the average price per ad increased 6 % and 9 % for the respective periods.
Despite the revenue beat, Meta’s earnings release highlighted that total costs and expenses climbed 40 % year-over-year in Q4 to $35.15 billion, reflecting elevated investment in infrastructure, artificial intelligence, data centres and technical talent. For the full year, costs increased 24 % to $117.69 billion.
Meta’s capital expenditures for the quarter and full year were also substantial, with $22.14 billion spent in Q4 and $72.22 billion for all of 2025, underscoring the company’s commitment to building out its AI compute capacity and long-term platform infrastructure.
Executives noted in the earnings release that the company ended the year with $81.59 billion in cash, cash equivalents and marketable securities, while operating cash flow reached $36.21 billion in Q4 and $115.80 billion for the full year. Free cash flow was $14.08 billion and $43.59 billion for the respective periods.
Meta CEO Mark Zuckerberg said in the release, “We had strong business performance in 2025. I’m looking forward to advancing personal superintelligence for people around the world in 2026.”
The report also included forward-looking guidance: Meta expects total revenue between $53.5 billion and $56.5 billion in the first quarter of 2026, and full-year 2026 total expenses between $162 billion and $169 billion, driven by continued infrastructure build-out and investments in AI and technical talent.
The strong earnings performance had an immediate impact on Meta’s stock price, which rallied in after-hours trading following the announcement, reflecting investor confidence in the company’s advertising business and growth outlook despite heavy spending on technology and infrastructure.
Analysts noted that Meta’s results underscore the resilience of its core advertising engine, even as the company pushes heavily into next-generation technologies. Still, the sharp increases in operating expenses and capital expenditures have sparked debate among investors about the pace and scale of capital deployment and its impact on longer-term profitability.
Meta’s earnings call, accompanying the release, highlighted sustained engagement growth across major platforms, expansion of monetization opportunities, and continued emphasis on innovation in artificial intelligence and personalized user experiences.
As the company enters 2026, Meta faces challenges including rising costs for AI talent and infrastructure, regulatory scrutiny in multiple markets and competitive pressures across social platforms. However, the firm’s financial results suggest that its core advertising business remains strong and capable of supporting its strategic investments.
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