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Meta beats Q1 2026 revenue and EPS estimates, raises 2026 Capex guidance by $10B, and issues Q2 guidance suggesting strong revenue growth may be losing steam
- Meta’s Q1 2026 revenue rose 33.1% y/y to $56.3 B, in line with management’s upper point guidance and above analysts’ consensus estimate of $55.5 B, while operating margin was 40.6% versus analysts’ estimate of 35%.
- EPS (excluding tax benefit of $3.13 per share) was $7.31 versus analysts’ consensus estimate of $6.74.
- Meta guided Q2 2026 revenue in the range of $58-61 billion (+22.1% to +28.4%) versus analysts estimate of $59.6 B (+25.4% y/y), 2026 Capex in the range of $125-$145 B (up $10 B from previous guidance and compared to consensus estimate of $125 B), and 2026 total expenses in the range of $162-169 B (unchanged from prior guidance).
- Family daily active people (DAP) rose 4% y/y to $3.56 B (but down 0.6% QoQ) due to internet disruption from Iran conflict and WhatsApp ban in Russia, ad impressions grew 19% y/y (Q4 2025: +18% y/y) while average price per ad increased 12% y/y (Q4 2025: +6% y/y).
- Meta shares down 5% at the time of writing this post, with Bloomberg citing the increased Capex guidance and revenue guidance that fails to blow analysts’ minds as usual.
Q1 2026 Meta Platforms Earnings Press Release
Q1 2026 Meta Platforms Earnings (Notion)