Q2 2026 Meta Platforms Earnings

I suspect token costs were also a major driver, given reports that Meta plans to impose limits on AI token usage as those costs have climbed into the billions. Meta flags it as well in its 10-Q.

Q2 2026 Meta Platforms 10-Q

Edit: Wells Fargo analyst Ken Gawrelski estimates internal token costs contributed roughly $2 billion in year-over-year cost growth.

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