META PLATFORMS, INC., 10-Q filed on 7/30/2026
Quarterly Report
v3.26.1
Cover Page - shares
 6 Months Ended
Jun. 30, 2026
Jul. 24, 2026
Entity Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2026  
Document Transition Report false  
Entity File Number 001-35551  
Entity Registrant Name Meta Platforms, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 20-1665019  
Entity Address, Address Line One 1 Meta Way  
Entity Address, City or Town Menlo Park  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94025  
City Area Code 650  
Local Phone Number 543-4800  
Title of 12(b) Security Class A Common Stock, $0.000006 par value  
Trading Symbol META  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001326801  
Current Fiscal Year End Date --12-31  
Common Class A    
Entity Information    
Entity Common Stock, Shares Outstanding   2,205,128,509
Common Class B    
Entity Information    
Entity Common Stock, Shares Outstanding   342,377,716
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 15,462 $ 35,873
Marketable securities 74,798 45,719
Accounts receivable, net 21,752 19,769
Prepaid expenses and other current assets 13,463 7,361
Total current assets 125,475 108,722
Non-marketable equity investments 30,157 27,524
Property and equipment, net 225,724 176,400
Operating lease right-of-use assets 23,985 20,404
Goodwill 23,406 24,534
Other assets 21,209 8,437
Total assets 449,956 366,021
Current liabilities:    
Accounts payable 15,889 8,894
Operating lease liabilities, current 2,425 2,213
Accrued expenses and other current liabilities 38,065 30,729
Total current liabilities 56,379 41,836
Operating lease liabilities, non-current 26,229 22,940
Long-term debt 83,664 58,744
Long-term income taxes 18,326 21,005
Other liabilities 4,137 4,253
Total liabilities 188,735 148,778
Commitments and contingencies
Stockholders' equity:    
Common stock and additional paid-in capital 103,981 95,793
Accumulated other comprehensive income (loss) (603) 271
Retained earnings 157,843 121,179
Total stockholders' equity 261,221 217,243
Total liabilities and stockholders' equity $ 449,956 $ 366,021
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Millions
Jun. 30, 2026
Dec. 31, 2025
Stockholders' equity:    
Common stock, par value (in dollars per share) $ 0.000006 $ 0.000006
Class A Common Stock    
Stockholders' equity:    
Common stock, shares authorized (in shares) 5,000 5,000
Common stock, shares issued (in shares) 2,206 2,187
Common stock, shares outstanding (in shares) 2,206 2,187
Class B Common Stock    
Stockholders' equity:    
Common stock, shares authorized (in shares) 4,141 4,141
Common stock, shares issued (in shares) 342 343
Common stock, shares outstanding (in shares) 342 343
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenue $ 60,801 $ 47,516 $ 117,111 $ 89,830
Costs and expenses:        
Cost of revenue 11,330 8,491 21,549 16,063
Research and development 21,656 12,942 39,354 25,092
Marketing and sales 3,431 2,979 6,339 5,735
General and administrative 5,609 2,663 8,222 4,943
Total costs and expenses 42,026 27,075 75,464 51,833
Income (loss) from operations 18,775 20,441 41,647 37,997
Interest and other income (expense), net (19) 93 (1,139) 919
Income before income taxes 18,756 20,534 40,508 38,916
Provision (benefit) for income taxes 2,908 2,197 (2,113) 3,935
Net income $ 15,848 $ 18,337 $ 42,621 $ 34,981
Earnings per share:        
Basic (in dollars per share) $ 6.23 $ 7.28 $ 16.79 $ 13.87
Diluted (in dollars per share) $ 6.18 $ 7.14 $ 16.62 $ 13.56
Weighted-average shares used to compute earnings per share:        
Basic (in shares) 2,543 2,518 2,538 2,522
Diluted (in shares) 2,566 2,570 2,565 2,580
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]        
Net income $ 15,848 $ 18,337 $ 42,621 $ 34,981
Other comprehensive income (loss):        
Change in foreign currency translation adjustment, net of tax (131) 1,866 (523) 2,760
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax (169) 228 (351) 566
Comprehensive income $ 15,548 $ 20,431 $ 41,747 $ 38,307
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Class A and Class B Common Stock and Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Balances at beginning of period (in shares) at Dec. 31, 2024   2,534    
Balances at beginning of period at Dec. 31, 2024 $ 182,637 $ 83,228 $ (3,097) $ 102,506
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 34,981     34,981
Other comprehensive income (loss) 3,326   3,326  
Issuance of common stock (in shares)   31    
Shares withheld related to net share settlement (in shares)   (13)    
Shares withheld related to net share settlement (8,993) $ (3,713)   (5,280)
Share-based compensation 8,981 $ 8,981    
Share repurchases (in shares)   (36)    
Share repurchases (23,159)     (23,159)
Dividends and dividend equivalents declared (2,691)     (2,691)
Other (12)     (12)
Balances at end of period (in shares) at Jun. 30, 2025   2,516    
Balances at end of period at Jun. 30, 2025 195,070 $ 88,496 229 106,345
Balances at beginning of period (in shares) at Mar. 31, 2025   2,523    
Balances at beginning of period at Mar. 31, 2025 185,029 $ 85,568 (1,865) 101,326
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 18,337     18,337
Other comprehensive income (loss) 2,094   2,094  
Issuance of common stock (in shares)   15    
Shares withheld related to net share settlement (in shares)   (5)    
Shares withheld related to net share settlement (4,110) $ (1,906)   (2,204)
Share-based compensation 4,834 $ 4,834    
Share repurchases (in shares)   (17)    
Share repurchases (9,762)     (9,762)
Dividends and dividend equivalents declared (1,349)     (1,349)
Other (3)     (3)
Balances at end of period (in shares) at Jun. 30, 2025   2,516    
Balances at end of period at Jun. 30, 2025 195,070 $ 88,496 229 106,345
Balances at beginning of period (in shares) at Dec. 31, 2025   2,530    
Balances at beginning of period at Dec. 31, 2025 217,243 $ 95,793 271 121,179
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 42,621     42,621
Other comprehensive income (loss) (874)   (874)  
Issuance of common stock (in shares)   32    
Shares withheld related to net share settlement (in shares)   (14)    
Shares withheld related to net share settlement (8,704) $ (5,502)   (3,202)
Share-based compensation 13,690 $ 13,690    
Dividends and dividend equivalents declared (2,755)     (2,755)
Balances at end of period (in shares) at Jun. 30, 2026   2,548    
Balances at end of period at Jun. 30, 2026 261,221 $ 103,981 (603) 157,843
Balances at beginning of period (in shares) at Mar. 31, 2026   2,538    
Balances at beginning of period at Mar. 31, 2026 243,681 $ 99,337 (303) 144,647
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 15,848     15,848
Other comprehensive income (loss) (300)   (300)  
Issuance of common stock (in shares)   16    
Shares withheld related to net share settlement (in shares)   (6)    
Shares withheld related to net share settlement (4,281) $ (3,014)   (1,267)
Share-based compensation 7,658 $ 7,658    
Dividends and dividend equivalents declared (1,385)     (1,385)
Balances at end of period (in shares) at Jun. 30, 2026   2,548    
Balances at end of period at Jun. 30, 2026 $ 261,221 $ 103,981 $ (603) $ 157,843
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Stockholders' Equity [Abstract]        
Dividends and dividend equivalents declared (in dollars per share) $ 0.525 $ 0.525 $ 1.05 $ 1.05
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 42,621 $ 34,981
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,355 8,242
Share-based compensation 13,690 8,981
Deferred income taxes 1,568 (2,163)
Unrealized loss on equity investments 1,185 320
Other (73) (376)
Changes in assets and liabilities:    
Accounts receivable (2,273) 1,466
Prepaid expenses and other current assets (3,230) 686
Other assets (2,535) (242)
Accounts payable (354) (574)
Accrued expenses and other current liabilities 5,662 (3,338)
Other liabilities (4,528) 1,604
Net cash provided by operating activities 64,088 49,587
Cash flows from investing activities    
Purchases of property and equipment (49,113) (29,479)
Purchases of marketable securities (75,592) (19,509)
Sales and maturities of marketable securities 44,036 19,057
Purchases of non-marketable equity investments (1,670) (15,214)
Payments for held-for-sale assets (674) (775)
Acquisitions of businesses and intangible assets (474) (62)
Other investing activities 156 14
Net cash used in investing activities (83,331) (45,968)
Cash flows from financing activities    
Taxes paid related to net share settlement of equity awards (8,704) (8,993)
Repurchases of Class A common stock 0 (22,921)
Payments for dividends and dividend equivalents (2,699) (2,656)
Proceeds from issuance of long-term debt, net 24,910 0
Principal payments on finance leases (1,805) (1,225)
Other financing activities (2,288) 323
Net cash provided by (used in) financing activities 9,414 (35,472)
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents 0 243
Net decrease in cash, cash equivalents, restricted cash, and restricted cash equivalents (9,829) (31,610)
Cash, cash equivalents, restricted cash, and restricted cash equivalents at beginning of the period 39,100 45,438
Cash, cash equivalents, restricted cash, and restricted cash equivalents at end of the period 29,271 13,828
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the condensed consolidated balance sheets    
Cash and cash equivalents 15,462 12,005
Restricted cash and restricted cash equivalents, included in prepaid expenses and other current assets 702 161
Restricted cash and restricted cash equivalents, included in other assets 13,107 1,662
Total cash, cash equivalents, restricted cash, and restricted cash equivalents 29,271 13,828
Supplemental cash flow data    
Cash paid for income taxes, net 1,999 5,544
Cash paid for interest, net of amounts capitalized 1,097 478
Non-cash investing and financing activities:    
Property and equipment in accounts payable and accrued expenses and other current liabilities 19,502 10,618
Acquisition of businesses and intangible assets in accounts payable, accrued expenses and other current liabilities, and other liabilities 2,172 132
Non-marketable equity investments in accrued expenses and other current liabilities 0 651
Repurchases of Class A common stock in accrued expenses and other current liabilities $ 0 $ 131
v3.26.1
Summary of Significant Accounting Policies
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2025.

The condensed consolidated balance sheet as of December 31, 2025 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP.

The condensed consolidated financial statements include the accounts of Meta Platforms, Inc. and its subsidiaries where we have controlling financial interests. All intercompany balances and transactions have been eliminated.

The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year.

Use of Estimates

Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to loss contingencies, income taxes, valuation of non-marketable equity investments, valuation of long-lived assets and their associated estimated useful lives, revenue recognition, valuation of goodwill, credit losses of available-for-sale debt securities, accounts receivable, and fair value of financial instruments and leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.

Significant Accounting Policies

There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the year ended December 31, 2025.

Accounting Pronouncements Not Yet Adopted

In May 2026, the FASB issued Accounting Standards Update (ASU) No. 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). This standard establishes guidance for the recognition, measurement and disclosure of environmental credits and environmental credit obligations. The guidance will be effective for the annual periods beginning the year ending December 31, 2028 and interim periods within those annual periods. Early adoption is permitted. Upon adoption, the guidance is required to be applied on a retrospective basis. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures.
v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Revenue disaggregated by revenue source and by segment consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Advertising$59,363 $46,563 $114,387 $87,955 
Other revenue1,007 583 1,891 1,093 
Family of Apps60,370 47,146 116,278 89,048 
Reality Labs431 370 833 782 
Total revenue$60,801 $47,516 $117,111 $89,830 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
United States and Canada$23,863 $18,454 $45,129 $35,323 
Europe (1)
14,009 11,128 27,249 20,749 
Asia-Pacific16,073 12,858 31,518 24,097 
Rest of World (1)
6,856 5,076 13,215 9,661 
Total revenue$60,801 $47,516 $117,111 $89,830 
____________________________________
(1)Europe includes Russia and Turkey. Rest of World includes Africa, Latin America, and the Middle East.

Deferred revenue was $1.16 billion and $1.08 billion as of June 30, 2026 and December 31, 2025, respectively. Our deferred revenue mostly relates to advertising prepayments and credits, as well as software updates and upgrades associated with Reality Labs hardware sales, the substantial majority of which are expected to be realized in less than a year.
v3.26.1
Earnings per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present the earnings per share (EPS) for Class A and Class B common stock together.

Basic EPS is computed by dividing net income by the weighted-average number of shares of our common stock outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of fully diluted common stock outstanding and assumes the conversion of our Class B common stock to Class A common stock.

For the three and six months ended June 30, 2026, approximately 60 million and 47 million shares, respectively, were excluded from the diluted EPS calculation as including them would have an anti-dilutive effect. For both the three and six months ended June 30, 2025, shares with an anti-dilutive effect were approximately 1 million.

The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Basic EPS:
Numerator
Distributed earnings$1,353 $1,327 $2,699 $2,656 
Undistributed earnings14,495 17,010 39,922 32,325 
Net income$15,848 $18,337 $42,621 $34,981 
Denominator
Shares used in computation of basic EPS (1)
2,543 2,518 2,538 2,522 
Basic EPS$6.23 $7.28 $16.79 $13.87 
Diluted EPS:
Numerator
Net income for diluted EPS$15,848 $18,337 $42,621 $34,981 
Denominator
Shares used in computation of basic EPS (1)
2,543 2,518 2,538 2,522 
Effect of dilutive shares23 52 27 58 
Shares used in computation of diluted EPS2,566 2,570 2,565 2,580 
Diluted EPS$6.18 $7.14 $16.62 $13.56 
____________________________________
(1)Includes 2,201 million and 2,175 million shares of Class A common stock and 342 million and 343 million shares of Class B common stock, for the three months ended June 30, 2026 and 2025, respectively; and 2,196 million and 2,179 million shares of Class A common stock and 342 million and 343 million shares of Class B common stock, for the six months ended June 30, 2026 and 2025, respectively.

EPS for Class B common stock is not presented separately as under the two-class method Class A and Class B EPS is not meaningfully different.
v3.26.1
Financial Instruments
 6 Months Ended
Jun. 30, 2026
Financial Instruments [Abstract]  
Financial Instruments Financial Instruments
Fair Value Measurements

Our cash equivalents, marketable securities, and restricted cash equivalents are classified within Level 1 or Level 2 of the fair value hierarchy because their fair values are derived from quoted market prices or alternative pricing sources and models utilizing market observable inputs. Certain other assets are classified within Level 3 because factors used to develop the estimated fair value are unobservable inputs that are not supported by market activity.

The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions):
  Fair Value Measurement at Reporting Date Using
June 30, 2026Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$5,223 $5,223 $— $— 
U.S. government securities2,077 2,077 — — 
Time deposits350 — 350 — 
Corporate debt securities4,483 — 4,483 — 
Total cash equivalents12,133 7,300 4,833 — 
Marketable securities:
U.S. government securities41,724 41,724 — — 
U.S. government agency securities940 940 — — 
Corporate debt securities28,591 — 28,591 — 
Marketable equity securities3,543 3,543 — — 
Total marketable securities74,798 46,207 28,591 — 
Restricted cash equivalents13,554 13,554 — — 
Other assets114 — — 114 
Total$100,599 $67,061 $33,424 $114 
  Fair Value Measurement at Reporting Date Using
December 31, 2025Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$27,928 $27,928 $— $— 
U.S. government securities1,623 1,623 — — 
Time deposits328 — 328 — 
Corporate debt securities1,603 — 1,603 — 
Total cash equivalents31,482 29,551 1,931 — 
Marketable securities:
U.S. government securities21,483 21,483 — — 
U.S. government agency securities767 767 — — 
Corporate debt securities17,477 — 17,477 — 
Marketable equity securities5,992 5,992 — — 
Total marketable securities45,719 28,242 17,477 — 
Restricted cash equivalents2,539 2,539 — — 
Other assets106 — — 106 
Total$79,846 $60,332 $19,408 $106 

Restricted Cash Equivalents

As of June 30, 2026, our restricted cash equivalents of $13.55 billion include $10.80 billion of money market funds related to escrow requirements under certain multi-year infrastructure purchase agreements. These funds are restricted from general corporate use and are expected to be released between 2028 and 2030 upon satisfying the underlying purchase obligations. Based on the expected timing of the release of these restrictions, substantially all of our restricted cash equivalents were classified within other assets on our condensed consolidated balance sheets. See Note 9 — Commitments and Contingencies for additional information.

Marketable Debt Securities

The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of June 30, 2026 and December 31, 2025, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
June 30, 2026
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$38,575 $(107)$212 $(3)$38,787 $(110)
U.S. government agency securities407 (3)25 — 432 (3)
Corporate debt securities12,413 (45)574 (5)12,987 (50)
Total$51,395 $(155)$811 $(8)$52,206 $(163)
December 31, 2025
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$1,491 $(2)$1,570 $(18)$3,061 $(20)
U.S. government agency securities17 — 25 — 42 — 
Corporate debt securities1,213 (1)1,534 (20)2,747 (21)
Total$2,721 $(3)$3,129 $(38)$5,850 $(41)

As of June 30, 2026 and December 31, 2025, the gross unrealized gains on our marketable debt securities were not material and $300 million, respectively, and the allowance for credit losses were not material for both periods.

The following table classifies our marketable debt securities by contractual maturities (in millions):
June 30, 2026
Due within one year$44,551 
Due after one year to five years26,704 
Total$71,255 
Marketable Equity Securities

The net unrealized losses on our marketable equity securities were $733 million and $511 million for the three months ended June 30, 2026 and 2025, respectively; and $2.30 billion and $374 million for the six months ended June 30, 2026 and 2025, respectively. These losses are recorded within interest and other income (expense), net on our condensed consolidated statements of income.
v3.26.1
Non-Marketable Equity Investments
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Non-Marketable Equity Investments Non-Marketable Equity Investments
Our non-marketable equity investments are in privately-held companies without readily determinable fair values. The following table summarizes our non-marketable equity investments under measurement alternative and equity method (in millions):
June 30, 2026December 31, 2025
Initial cost$20,816 $20,271 
Cumulative upward adjustments559 429 
Cumulative impairment/downward adjustments(624)(624)
Non-marketable equity investments under measurement alternative20,751 20,076 
Non-marketable equity investments under equity method9,406 7,448 
Total carrying value of non-marketable equity investments$30,157 $27,524 
Non-Marketable Equity Investments Under Equity Method
Our non-marketable equity method investments include an arrangement, entered into in October 2025, to co-develop a data center campus in Louisiana (the Venture), in which we hold a 20% membership interest. This Venture provides strategic optionality and flexibility, which we expect will enable us to effectively meet future infrastructure capacity needs as AI markets and technologies develop. The parties have committed to fund their respective pro rata share of approximately $27 billion in total estimated development costs.
Our lease agreements with the Venture, which cover the right to use properties on the data center campus, will commence in 2029 and have an aggregate initial lease commitment of approximately $12.31 billion. Each leased property has an initial four-year lease term and options to renew for a total lease period of up to 20 years. In addition, we have provided residual value guarantees (RVG) with an aggregate threshold of approximately $28 billion that decreases over time. If we decide to terminate or not renew a lease, and if certain other conditions are met, our maximum RVG payment would equal
any shortfall between the fair value at that time and the RVG threshold for that property. RVG payments are not probable, and therefore no liability has been recorded to date.
Significant judgment is required to identify the activities that most significantly impact the Venture's economic performance based upon the purpose and design of the entity. This judgment included, but was not limited to, considering future conditions that may impact the fair value of the Venture's long-lived assets (including expectations of payments under the RVG) or the Venture's ability to generate cash flows. On the basis of analyses performed, decisions pertaining to remarketing the data center campus, including but not limited to, negotiations with future lease tenants and individual property sales, were determined to have the most significant impact on the Venture's economic performance. As we do not have the power to direct the activities that most significantly impact the Venture's economic performance, we are not the primary beneficiary and, therefore, do not consolidate the variable interest entity (VIE). Our ongoing involvement with the VIE includes providing construction management, administrative and property management services to the Venture.

As of June 30, 2026 and December 31, 2025, the carrying value of our equity investment included within non-marketable equity investments on our condensed consolidated balance sheets was $2.92 billion and $1.83 billion, respectively, and our maximum exposure to loss related to the Venture was $46.03 billion and $45.95 billion, respectively, consisting of the carrying value of our equity investment, the lease commitments, our estimated future funding commitments, and the maximum RVG threshold.
In addition, we have other types of unconsolidated VIEs of which we are not the primary beneficiary. As of June 30, 2026 and December 31, 2025, our maximum exposure to loss in these VIEs was $6.41 billion and $5.58 billion, respectively, which represents the carrying value of our investments, including our share of net earnings from the equity method investees.
v3.26.1
Property and Equipment
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consists of the following (in millions): 
June 30, 2026December 31, 2025
Land$3,667 $3,687 
Servers and network assets119,683 98,040 
Buildings61,037 55,568 
Leasehold improvements8,464 8,346 
Equipment and other10,209 9,377 
Finance lease right-of-use assets9,467 8,187 
Construction in progress (1)
80,345 50,521 
Property and equipment, gross292,872 233,726 
Less: Accumulated depreciation(67,148)(57,326)
Property and equipment, net$225,724 $176,400 
____________________________________
(1)Construction in progress includes costs mostly related to construction of data centers, servers and network infrastructure.

Depreciation expense on property and equipment was $6.00 billion and $4.28 billion for the three months ended June 30, 2026 and 2025, respectively, and $11.67 billion and $8.12 billion for the six months ended June 30, 2026 and 2025, respectively. Within property and equipment, our servers and network assets depreciation expense was $4.62 billion and $3.12 billion for the three months ended June 30, 2026 and 2025, respectively, and $9.01 billion and $5.74 billion for the six months ended June 30, 2026 and 2025, respectively.

Held-for-sale Assets

In March 2026, we approved a plan to dispose of certain data center assets with a carrying value of $1.48 billion, consisting mostly of construction in progress and land. We expect to dispose of these assets in the third quarter of 2026 through a contribution to a third party for the purpose of co-developing data centers in El Paso, Texas. As of June 30, 2026, total held-for-sale assets, net, were $2.03 billion, included within prepaid expenses and other current assets on our condensed consolidated balance sheets. See Note 13 — Subsequent Event for additional information.
v3.26.1
Acquisitions and Goodwill
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Acquisitions and Goodwill Acquisitions and Goodwill
The following table presents the changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2026 (in millions):
Family of AppsReality LabsTotal
December 31, 2025$23,028 $1,506 $24,534 
Acquisitions41 — 41 
Reclassified to held-for-sale(1,266)— (1,266)
Adjustments96 1 97 
June 30, 2026$21,899 $1,507 $23,406 
During the second quarter of 2026, we reclassified $1.27 billion of goodwill to held-for-sale within prepaid expenses and other current assets on our condensed consolidated balance sheets. No impairment loss was recognized upon reclassification.
v3.26.1
Long-term Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-term Debt Long-term Debt
In May 2026, we issued an aggregate of $25.00 billion of fixed-rate senior unsecured notes in six series. The following table summarizes our fixed-senior unsecured notes (the Notes) and the carrying amount of our long-term debt (in millions, except percentages):
MaturityStated Interest RateEffective Interest RateJune 30, 2026December 31, 2025
August 2022 Notes2027 - 2062
3.50% - 4.65%
3.63% - 4.71%
$10,000 $10,000 
May 2023 Notes2028 - 2063
4.60% - 5.75%
4.68% - 5.79%
8,500 8,500 
August 2024 Notes2029 - 2064
4.30% - 5.55%
4.42% - 5.60%
10,500 10,500 
November 2025 Notes2030 - 2065
4.20% - 5.75%
4.27% - 5.77%
30,000 30,000 
May 2026 Notes2031 - 2066
4.55% - 6.45%
4.60% - 6.48%
25,000 — 
Total face amount of long-term debt84,000 59,000 
Unamortized discount and issuance costs, net(336)(256)
Long-term debt$83,664 $58,744 
Each series of the Notes ranks equally with each other. Interest on the Notes is payable semi-annually in arrears. We may redeem the Notes at any time, in whole or in part, at specified redemption prices. We are not subject to any financial covenants under the Notes. Interest expense, net of capitalized interest, recognized on the Notes was $754 million and $1.29 billion for the three and six months ended June 30, 2026, respectively, and $232 million and $463 million for the three and six months ended June 30, 2025, respectively.

The total estimated fair value of our outstanding Notes was $79.75 billion and $57.22 billion as of June 30, 2026 and December 31, 2025, respectively. The fair value was determined based on the quoted prices at the end of the reporting periods and categorized as Level 2 in the fair value hierarchy.
As of June 30, 2026, future principal payments for the Notes, by year, are as follows (in millions):
Remainder of 2026$— 
20272,750 
20281,500 
20291,000 
20305,000 
Thereafter73,750 
Total$84,000 
v3.26.1
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases and Contractual Commitments

In addition to the lease liabilities that are included on our balance sheet, we have operating and finance leases that have not yet commenced as of June 30, 2026. These lease obligations were approximately $278.99 billion, consisting of data centers, colocations, and certain network infrastructure, which will commence during the remainder of 2026 through 2036 with lease terms ranging from greater than one year to 30 years. In July 2026, we entered into additional data center leases with lease obligations of approximately $68 billion, which are expected to commence in 2027 and 2028, with lease terms of 18 to 20 years.

As of June 30, 2026, we had $349.31 billion of non-cancelable contractual commitments, comprising both short-term and long-term arrangements. These commitments mostly relate to third-party cloud capacity arrangements and investments in servers and network infrastructure, data centers, and consumer hardware products in Reality Labs, with approximately $53.52 billion and $81.65 billion due in 2026 and 2027, respectively. In addition, as of June 30, 2026, we have contingent obligations to purchase up to $14.72 billion of cloud capacity over a five-year period, which may be reduced if the cloud service provider is able to sell such capacity to other customers. For agreements with variable terms, we do not estimate the total obligation beyond minimum quantities and/or pricing, as of the reporting date.

In connection with escrow requirements under certain multi-year infrastructure purchase agreements, $10.80 billion of money market funds was reclassified as restricted cash equivalents as of June 30, 2026. These funds are restricted from general corporate use and are expected to be released between 2028 and 2030 upon satisfying the underlying purchase obligations. See Note 4 — Financial Instruments for additional information regarding restricted cash equivalents.

As part of the normal course of business, we have entered into agreements ranging from nine to 25 years to purchase clean and renewable energy that do not specify a fixed or minimum volume commitment. The ultimate spend under these agreements may vary and will be based on actual volume purchased.

Legal and Related Matters

With respect to the cases, actions, and inquiries described below, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these matters. Unless otherwise noted, with respect to the matters described below that do not include an estimate of the amount of loss or range of possible loss, such losses or range of possible losses either cannot be estimated or are not individually material, but we believe there is a reasonable possibility that they may be material in the aggregate.

We are also party to various other legal proceedings, claims, and regulatory, tax or government inquiries and investigations that arise in the ordinary course of business. Additionally, we are required to comply with various legal and regulatory obligations around the world. The requirements for complying with these obligations may be uncertain and subject to interpretation and enforcement by regulatory and other authorities, and any failure or perceived failure to comply with such obligations could eventually lead to asserted legal or regulatory action. With respect to these other legal proceedings, claims, regulatory, tax, or government inquiries and investigations, and other matters, asserted and unasserted, we evaluate the associated developments on a regular basis and accrue a liability when we believe a loss is probable and the amount can be reasonably estimated. In addition, we believe there is a reasonable possibility that we may incur a loss in some of these other
matters. We believe that the amount of losses or any estimable range of possible losses with respect to these other matters will not, either individually or in the aggregate, have a material adverse effect on our business and condensed consolidated financial statements.

The ultimate outcome of the legal and related matters described in this section, such as whether the likelihood of loss is remote, reasonably possible, or probable, or if and when the reasonably possible range of loss is estimable, is inherently uncertain. Therefore, if one or more of these matters were resolved against us for amounts in excess of management's estimates of loss, our results of operations and financial condition, including in a particular reporting period in which any such outcome becomes probable and estimable, could be materially adversely affected.

For information regarding income tax contingencies, see Note 11 — Income Taxes.

Privacy and Related Matters

Beginning on March 20, 2018, multiple putative class actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging various causes of action in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. With respect to the putative class actions alleging fraud and violations of consumer protection, privacy, and other laws in connection with the same matters, several of the cases brought on behalf of consumers in the United States were consolidated in the U.S. District Court for the Northern District of California (In re Facebook, Inc., Consumer Privacy User Profile Litigation). On December 22, 2022, the parties entered into a settlement agreement to resolve the lawsuit, which provided for a payment of $725 million by us and became final on May 14, 2025. In addition, our platform and user data practices, as well as the events surrounding the misuse of certain data by a developer, became the subject of U.S. Federal Trade Commission (FTC), state attorneys general, and other government inquiries in the United States, Europe, and other jurisdictions. We entered into a settlement and modified consent order to resolve the FTC inquiry, which took effect in April 2020. Among other matters, our settlement with the FTC required us to pay a penalty of $5.0 billion which was paid in April 2020 upon the effectiveness of the modified consent order. In addition, in December 2025, we entered into a settlement agreement with California to resolve its lawsuit alleging violations of consumer protection laws, which was approved by the court in California in March 2026. Certain other state attorneys general inquiries and litigation and certain government inquiries in other jurisdictions remain ongoing. On June 1, 2023, the court presiding over the lawsuit filed by the District of Columbia granted our motion for summary judgment, resolving the case in our favor. On June 29, 2023, the District of Columbia filed a notice of appeal. The appeal was heard on January 30, 2025 and on July 31, 2025, the District of Columbia Court of Appeals reversed the decision on procedural grounds and remanded the matter to the lower court. Trial in the New Mexico Attorney General's case, which has expanded to include various claims related to content moderation issues, is scheduled to begin on September 8, 2026. The New Mexico Attorney General has indicated that they intend to seek up to $62.85 billion in penalties in this case.

On May 3, 2023, the FTC filed a public administrative proceeding (In the Matter of Facebook, Inc.) seeking substantial changes to the modified consent order, which took effect in April 2020 after its entry by the U.S. District Court for the District of Columbia. The changes sought by the FTC are set forth in a proposed order and include, among others, a prohibition on our use of minors' data for any commercial purposes, changes to the composition of our board of directors, and significant limitations on our ability to modify and launch new products. On May 31, 2023, we filed a motion before the U.S. District Court for the District of Columbia seeking to enjoin the FTC from further pursuing its agency process to modify the modified consent order. On November 27, 2023, the district court denied our motion, and we then appealed to the U.S. Court of Appeals for the District of Columbia Circuit (U.S. v. Facebook, Inc.) and sought to stay the FTC proceeding pending resolution of the appeal. Our motion for a stay pending appeal was denied in March 2024. After the underlying appeal was briefed and oral argument was held on November 5, 2024, the U.S. Court of Appeals for the District of Columbia Circuit issued its decision on May 16, 2025, reversing the district court's denial of our motion on jurisdictional grounds, and directed the district court to consider the merits of our arguments. On July 10, 2025, the case was remanded to the district court to consider our claims in light of the Court of Appeals' determination that the district court retains jurisdiction over the entirety of the consent order. On December 23, 2025, the district court ordered a schedule for supplemental briefing in light of the Court of Appeals decision, and briefing was completed in May 2026.

On November 29, 2023, we separately filed a complaint, also in the U.S. District Court for the District of Columbia (Meta Platforms, Inc. v. FTC), asserting constitutional challenges to the structure of the FTC, and seeking to preliminarily enjoin the FTC proceeding during the pendency of the litigation. On December 13, 2023, the FTC filed an opposition to our motion for preliminary injunction and a motion to dismiss the complaint. On March 14, 2024, the district court denied our
motion to preliminarily enjoin the FTC proceeding during the pendency of the litigation, and also denied the FTC's motion to dismiss our complaint without prejudice, pending the U.S. Supreme Court's decision in SEC v. Jarkesy (Jarkesy). Our motion for a stay of the FTC proceeding pending appeal was denied in March 2024. Both the district court action and the appeal were stayed pending the Supreme Court's decision in Jarkesy. Following the Supreme Court's ruling in Jarkesy on June 27, 2024, the government filed a renewed motion to dismiss, which was fully briefed as of October 18, 2024. On June 29, 2025, the district court granted our request for a stay in light of the Court of Appeals' May 16, 2025 decision in the jurisdictional case. On June 9, 2026, the district court continued the stay and ordered the parties to file a status update due the earlier of 30 days after a decision in the jurisdictional case, or September 8, 2026.

On April 1, 2024, we filed our response to the FTC's Order to Show Cause, arguing, among other things, that the Order to Show Cause proceeding was legally improper. Per FTC orders, we completed briefing on threshold legal issues on July 18, 2024, and the FTC held oral argument before the Commissioners on those issues on November 12, 2024. On January 10, 2025, the Commission issued a decision on certain threshold legal issues, including that the Commission has statutory authority to modify consent orders. The Commission stated that its decision is subject to Meta's jurisdictional challenges then pending before the U.S. Court of Appeals for the District of Columbia Circuit in U.S. v. Facebook, Inc., and that the nature and scope of any further administrative proceedings would be addressed at a later date. On July 30, 2025, the Commission issued an order staying the Order to Show Cause proceeding pending final resolution of the two judicial cases we filed challenging the proceeding. Through the administrative process, the FTC could amend the order to impose the additional requirements set forth in the proposed order. We should have the opportunity to appeal an FTC decision modifying the order and could request the appellate court to stay the enforcement of the modifications to the order while the appeal is pending. It is unclear whether the appeal or the request for a stay would be successful.

We also notify the Irish Data Protection Commission (IDPC), our lead European Union privacy regulator under the General Data Protection Regulation (GDPR), of certain other personal data breaches and privacy issues, issue similar notifications to European regulators under other laws (such as UK GDPR and Member State implementations of the ePrivacy Directive), and are subject to inquiries and investigations by the IDPC and other European regulators regarding various aspects of our regulatory compliance. For example, the IDPC is continuing to assess the compliance of our "subscription for no ads" consent model with requirements under the GDPR. In addition, on May 12, 2023, the IDPC issued a Final Decision concluding that Meta Platforms Ireland's reliance on Standard Contractual Clauses in respect of certain transfers of European Economic Area (EEA) Facebook user data was not in compliance with the GDPR. The IDPC issued an administrative fine of EUR €1.2 billion as well as corrective orders, which is described further in "Legal Proceedings" contained in Part II, Item 1 of this Quarterly Report on Form 10-Q. The interpretation of the GDPR is still evolving, including through decisions of the Court of Justice of the European Union, and draft decisions in investigations by the IDPC are subject to review by other European privacy regulators as part of the GDPR's cooperation and consistency mechanisms, which may lead to significant changes in the final outcome of such investigations. As a result, the interpretation and enforcement of the GDPR, as well as the imposition and amount of penalties for non-compliance, are subject to significant uncertainty. Although we are vigorously defending our regulatory compliance, we have accrued significant amounts for loss contingencies related to these inquiries and investigations in Europe, and we believe there is a reasonable possibility that additional accruals for losses related to these matters could be material individually or in the aggregate. In addition, we are subject to individual and class actions in Europe relating to matters that are or have been the subject of regulatory investigations.

Beginning on June 7, 2021, multiple putative class actions were filed against us alleging that we improperly received individuals' information from third-party websites or apps via our business tools in violation of our terms and various state and federal laws and seeking unspecified damages and injunctive relief (for example, In re Meta Pixel Healthcare Litigation; In re Meta Pixel Tax Filing Cases; Frasco v. Flo Health, Inc.; Doe v. Hey Favor, Inc. et al.; Doe v. GoodRx Holdings, Inc. et al. in the U.S. District Court for the Northern District of California; and Rickwalder, et al. v. Meta Platforms, Inc. in the Santa Clara County Superior Court). These cases are in different stages, but several of our motions to dismiss have been denied in whole or in part, while certain others have been granted in whole or in part. In Rickwalder, the Superior Court denied plaintiffs' motion for class certification and the plaintiffs have appealed that decision. In Meta Pixel Tax Filing Cases, on March 30, 2026, the U.S. District Court for the Northern District of California denied plaintiffs' motion for class certification. In Flo Health, on August 1, 2025, a jury returned a verdict on liability in favor of the plaintiffs and on behalf of a California subclass on the sole claim remaining against Meta under Section 632 of the California Invasion of Privacy Act. Plaintiffs are seeking $5,000 in statutory damages per class member and have asserted that there are up to approximately 1.25 million class members. The amount of potential damages is uncertain at this time. In addition, we are subject to individual and class actions in Europe and Canada, as well as regulatory investigations in the United States, Europe, and elsewhere, relating to similar matters with regard to our business tools.
Competition

We are subject to various litigation and government inquiries and investigations, formal or informal, by competition authorities in the United States, Europe, and other jurisdictions. Such investigations, inquiries, and lawsuits concern, among other things, our business practices in the areas of social networking or social media services, digital advertising, and/or mobile or online applications, as well as our acquisitions. For example, in 2019 we became the subject of antitrust investigations by the FTC and U.S. Department of Justice. On December 9, 2020, the FTC filed a complaint (FTC v. Meta Platforms, Inc.) against us in the U.S. District Court for the District of Columbia alleging that we engaged in anticompetitive conduct and unfair methods of competition in violation of Section 5 of the Federal Trade Commission Act and Section 2 of the Sherman Act, including by acquiring Instagram in 2012 and WhatsApp in 2014 and by maintaining conditions on access to our platform. The FTC sought a permanent injunction against our company's alleged violations of the antitrust laws, and other equitable relief, including divestiture or reconstruction of Instagram and WhatsApp. On June 28, 2021, the court granted our motion to dismiss the complaint filed by the FTC with leave to amend. On August 19, 2021, the FTC filed an amended complaint, and on October 4, 2021, we filed a motion to dismiss this amended complaint. On January 11, 2022, the court denied our motion to dismiss the FTC's amended complaint. On April 5, 2024, we filed our motion for summary judgment and the FTC filed its opposition and its own motion for partial summary judgment on May 24, 2024. On November 13, 2024, the court granted in part and denied in part both our and the FTC's motions for summary judgment. Trial began on April 14, 2025 and concluded on May 27, 2025. On November 18, 2025, the court granted judgment in our favor. On January 20, 2026, the FTC filed a notice of appeal of that ruling. Multiple putative class actions have also been filed in state and federal courts in the United States and in the United Kingdom against us alleging violations of antitrust laws and other causes of action in connection with these acquisitions and/or other alleged anticompetitive conduct, and seeking damages and injunctive relief. Several of the cases brought on behalf of certain advertisers and users in the United States were consolidated in the U.S. District Court for the Northern District of California (Klein et al., v. Meta Platforms, Inc.). On December 30, 2024, we filed our motion for summary judgment in the putative class action brought on behalf of certain advertisers, which is pending with the court. On January 24, 2025, the court denied plaintiffs' motion for class certification in the action brought on behalf of users, permitting it to proceed only on an individual basis as to the named plaintiffs. On September 29, 2025, in the user action, the court granted our motion, entering judgment in our favor. On October 27, 2025, plaintiffs in the user action filed a notice of appeal.

On February 11, 2022, a putative class action was filed against us in the UK Competition Appeals Tribunal (CAT) under the UK collective proceedings regime (Lovdahl-Gormsen v. Meta Platforms, Inc. et al.). On October 6, 2023, following the denial of class certification, the class representative submitted an amended claim alleging abuse of dominance relating to aspects of our data processing practices and seeking damages. The CAT certified the amended claim on February 15, 2024. Trial is scheduled to begin in October 2028.

We are also subject to litigation in Europe brought by news and media companies alleging anticompetitive conduct in relation to aspects of our historic data processing practices. For example, on December 1, 2023, 87 news media companies filed a joint action against us in Spain in relation to our legal basis under the GDPR for behavioral advertising, alleging unfair competition and abuse of dominance (Asociacion de Medios de Informacion (AMI) v. Meta Ireland). On November 19, 2025, the court issued judgment against us, finding that AMI had failed to establish abuse of dominance but upholding its case on unfair competition and awarding damages of approximately EUR €542 million. We have appealed the decision. In addition, on October 24, 2024, ten radio and television publishers commenced a separate claim against us in Spain on the same basis (Union de Televisiones Comerciales Asociadas (UTECA) v. Meta Ireland). Trial is scheduled for October 2026. In addition, on April 29, 2025, a similar unfair competition claim was filed against us by 67 media companies in France, with an additional 34 plaintiffs intervening subsequently (Amaury et al. v. Meta Platforms Ireland Limited). Trial is expected to take place in 2027.

In December 2022, the European Commission issued a Statement of Objections alleging that we tie Facebook Marketplace to Facebook and use data in a manner that infringes European Union competition rules. On November 18, 2024, the European Commission issued a decision that Meta infringed Article 102 on the Treaty of the Functioning of the European Union in relation to certain alleged business practices relating to Facebook Marketplace and imposed a fine of approximately EUR €798 million. We appealed the European Commission's decision on January 28, 2025.

In March 2024, the European Commission opened an investigation into the compliance of our "subscription for no ads" consent model with requirements under Article 5(2) of the Digital Markets Act (DMA). The European Commission issued preliminary findings on July 1, 2024 reflecting its preliminary view that our model does not comply with such requirements. In April 2025, the European Commission issued a final decision that our "subscription for no ads" model does
not comply with such requirements and imposed a fine of EUR €200 million. Based on feedback from the European Commission in connection with the DMA, we launched less personalized ads (LPA) in November 2024 and made significant modifications to LPA since the European Commission issued its final decision. We appealed the European Commission's decision on July 4, 2025, but further modifications to our model may be imposed during the appeal process, which could result in a materially worse user experience for European users and a significant impact to our European business and revenue.

In December 2025, the European Commission opened an antitrust investigation into our policy of not allowing general purpose AI providers to use the WhatsApp Business API to provide chatbot services, a use which was not a permitted use under our terms of service. While its investigation remains ongoing, in June 2026, the European Commission imposed an interim measure requiring WhatsApp to offer access to the API for free for such general purpose AI providers. We intend to appeal that interim measure. There are similar competition investigations in Africa, Brazil, and Turkey.

Securities and Other Actions

Beginning on March 20, 2018, multiple putative class actions and derivative actions were filed in state and federal courts in the United States and elsewhere against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with our platform and user data practices as well as the misuse of certain data by a developer that shared such data with third parties in violation of our terms and policies, and seeking unspecified damages and injunctive relief. Beginning on July 27, 2018, two putative class actions were filed in federal court in the United States against us and certain of our directors and officers alleging violations of securities laws in connection with the disclosure of our earnings results for the second quarter of 2018 and seeking unspecified damages. These two actions subsequently were transferred and consolidated in the U.S. District Court for the Northern District of California (In Re Facebook, Inc. Securities Litigation) with the putative securities class action described above relating to our platform and user data practices. In a series of orders in 2019 and 2020, the district court granted our motions to dismiss the plaintiffs' claims. On January 17, 2022, the plaintiffs filed a notice of appeal of the order dismissing their case, and on October 18, 2023, the U.S. Court of Appeals for the Ninth Circuit issued its decision affirming in part and reversing in part the district court's order dismissing the plaintiffs' case. We filed a petition for writ of certiorari on March 4, 2024 with the U.S. Supreme Court, seeking review of the Ninth Circuit's order. The Supreme Court granted in part our petition for writ of certiorari on June 10, 2024, and following oral argument issued an order on November 22, 2024 dismissing the grant of certiorari as improvidently granted. On January 24, 2025, the U.S. Court of Appeals for the Ninth Circuit returned the case to the district court. On July 1, 2025, the plaintiffs filed a fourth amended complaint. On September 2, 2025, we filed a motion to dismiss the fourth amended complaint. On February 27, 2026, the district court granted in part and denied in part our motion to dismiss the fourth amended complaint.

We are also subject to other government inquiries and investigations relating to our business activities and disclosure practices. For example, beginning in September 2021, we became subject to government investigations and requests relating to a former employee's allegations and release of internal company documents concerning, among other things, our algorithms, advertising and user metrics, and content enforcement practices, as well as misinformation and other undesirable activity on our platform, and user well-being. We have since received additional requests relating to these and other topics. Beginning on October 27, 2021, multiple putative class actions and derivative actions were filed in the U.S. District Court for the Northern District of California against us and certain of our directors and officers alleging violations of securities laws, breach of fiduciary duties, and other causes of action in connection with the same matters, and seeking unspecified damages (In re Meta Platforms, Inc., Securities Litigation). On September 30, 2024, the court dismissed certain claims with leave to amend, but determined certain claims regarding content enforcement practices and user well-being could proceed against us and certain of our current and former directors and officers. On February 13, 2026, the plaintiffs filed a second amended complaint asserting the same and similar claims regarding content enforcement practices and user well-being, as well as additional claims regarding encryption and age verification practices and previously dismissed claims regarding our algorithms. On March 30, 2026, we filed a motion to dismiss the second amended complaint.

Youth-Related Actions

Beginning in January 2022, we became subject to litigation and other proceedings that were filed in various federal and state courts in the United States as well as other jurisdictions alleging that Facebook and Instagram cause "social media addiction" in users, with most proceedings focused on those under 18 years old, resulting in various mental health and other harms. Putative class actions have been filed in the United States, Brazil, Canada, Europe, and elsewhere on behalf of users in those jurisdictions, and numerous school districts, municipalities, and tribal nations have filed public nuisance claims in the
United States and/or Canada based on similar allegations. On October 6, 2022, the U.S. federal cases were centralized in the U.S. District Court for the Northern District of California (In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation). Beginning in March 2023, U.S. states and territories began filing lawsuits on these topics in various federal and state courts. These additional lawsuits include allegations regarding violations of the Children's Online Privacy Protection Act (COPPA), child sexual abuse material and other child safety concerns, as well as violations of state consumer protection laws, unfair business practices, public nuisance, and products liability, with proceedings focused on our alleged business practices (including the use of end-to-end encryption) and harms to users under 18 years old. Certain of the lawsuits described above have since expanded to include various other claims relating to our services, including with respect to age verification, AI and AI chatbots, deceptive advertising, illicit or illegal activity with respect to drugs, fraud, and firearms, and privacy-related matters, among others. These lawsuits seek damages, disgorgement, and/or civil penalties and injunctive relief, and include cases filed by various state attorneys general in In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation in the U.S. District Court for the Northern District of California, as well as various state courts around the country. Trial in the first of the personal injury cases began on January 27, 2026 in Judicial Council Coordination Proceeding No. 5255 pending in Los Angeles County California Superior Court. On March 25, 2026, a jury returned a verdict in the first bellwether trial and awarded $6 million in compensatory and punitive damages between us and YouTube, allocated 70% to us and 30% to YouTube. We have filed a notice of appeal. The second user bellwether trial was scheduled to begin on July 27, 2026. The plaintiff moved to dismiss the case and vacate the trial date, which the court has granted. The next two user bellwether trials are scheduled to begin on October 28, 2026. Trial in the first of the state attorneys general cases began on February 2, 2026 in the First Judicial District Court of New Mexico, in a case brought by the New Mexico Attorney General. On March 24, 2026, a jury returned a verdict against us and ordered that we pay a civil penalty of $375 million. A bench trial on the New Mexico Attorney General's public nuisance claim and request for injunctive relief was held in May 2026. Following that trial, the New Mexico Attorney General is seeking $953 million in abatement costs and a broad set of injunctive terms, which include requests for extensive changes to the manner in which we provide our services in New Mexico. The court has not yet issued a decision. Trials in other state attorneys general cases are currently scheduled or expected to be scheduled in the second half of 2026 or in 2027. Trial in the Tennessee Attorney General's case began on July 20, 2026. In the multidistrict litigation (In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation), trial is scheduled to begin on August 12, 2026, for the first trial for the state attorneys general that have filed state and federal claims. This trial relates to claims asserted by four states and a federal claim for disgorgement asserted by all 29 state attorneys general who have sued in the multidistrict litigation. In the multidistrict litigation (In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation), we entered into a settlement to resolve the first school district bellwether case in May 2026. The next school district bellwether case is scheduled for trial in February 2027. Across the cases described above, the damages, disgorgement, or penalties that plaintiffs have indicated they could seek range widely in amount, including in certain cases up to more than a trillion dollars. Plaintiffs in these matters are also seeking varied injunctive relief, including in some cases extensive changes to our business practices or the manner in which we provide our services and third-party oversight. In addition, beginning in November 2024, counsel for over two hundred thousand individual claimants have sent mass arbitration demands relating to "social media addiction" and related harms allegedly caused by Instagram.

We are also subject to government investigations and requests from multiple regulators in various jurisdictions globally concerning the use of our products and services, compliance with applicable laws, and the alleged mental and physical health and safety and privacy impacts on users, particularly younger users, as well as the accuracy of our statements about youth and parental features. On May 16, 2024, the European Commission opened formal proceedings assessing our compliance with certain requirements under Articles 28, 34, and 35 of the Digital Services Act (DSA), including the way in which we identified, assessed, and mitigated against certain systemic risks to minors and other vulnerable users that may stem from the design and functioning of Instagram and Facebook. On April 29, 2026 and July 10, 2026, respectively, the Commission issued preliminary findings with respect to some of these topics, reflecting its preliminary view that users under 13 years of age are present on Facebook and Instagram and that both platforms present potentially addictive design features, calling into question our compliance with the obligations to diligently assess systemic risks, effectively mitigate such risks, and to overall ensure a high level of protection of minors. We have an opportunity to respond to the preliminary findings, and would also have an opportunity to appeal a final decision by the Commission.

Other Actions

Beginning on August 15, 2018, multiple putative class actions were filed against us alleging that we inflated our estimates of the potential audience size for advertisements, resulting in artificially increased demand and higher prices. The cases were consolidated in the U.S. District Court for the Northern District of California (DZ Reserve v. Facebook, Inc.) and seek unspecified damages and injunctive relief. In a series of rulings in 2019, 2021, and 2022, the court dismissed certain of
the plaintiffs' claims, but permitted their fraud and unfair competition claims to proceed. On March 29, 2022, the court granted the plaintiffs' motion for class certification. On March 21, 2024, the U.S. Court of Appeals for the Ninth Circuit affirmed in part and reversed in part the order granting class certification. On May 3, 2024, we filed a petition for panel rehearing and rehearing en banc, which was denied by the Ninth Circuit. We filed a petition for a writ of certiorari with the U.S. Supreme Court on October 2, 2024, which was denied. We then moved to compel arbitration, which the district court denied. We appealed the denial of our motion to compel arbitration to the Ninth Circuit on December 3, 2025. The matter is stayed in district court pending resolution of our appeal.

Beginning on July 7, 2023, multiple cases, including putative class actions, were filed against us in the United States and elsewhere, alleging that we improperly acquired, distributed, and used various copyrighted materials and/or other types of data to train our artificial intelligence models and seeking unspecified damages and injunctive relief. In the United States, statutory damages for copyright liability are calculated on a per work basis, which may result in substantial damages, particularly given the large volumes of data required to train AI models. The cases in the United States, which were filed in the U.S. District Court for the Northern District of California (Kadrey, et al. v. Meta Platforms, Inc., Chabon, et al. v. Meta Platforms, Inc. and Farnsworth v. Meta Platforms, Inc.) and U.S. District Court for the Southern District of New York (Huckabee, et al. v. Meta Platforms, Inc. et al., which was subsequently transferred to the U.S. District Court for the Northern District of California), have been consolidated into Kadrey, et al. v. Meta Platforms, Inc. Motions for summary judgment were heard in this case on May 1, 2025, including on the issue of the applicability of the fair use defense to use of copyrighted books for generative AI model training. On June 25, 2025, the court granted our motion for summary judgment on fair use as to the named plaintiffs in the case. The parties will proceed to brief the remaining claims of copyright infringement and contributory infringement related to alleged distribution of books to third parties during the downloading process. The court is scheduled to hear summary judgment motions on February 25, 2027. Beginning in November 2025, additional cases with similar claims were filed against us in the U.S. District Court for the Northern District of California and the Southern District of New York (Entrepreneur Media v. Meta Platforms, Inc., Carreyrou et al. v. Meta Platforms, Inc., TED Entertainment, Inc. v. Meta Platforms, Inc., Chicken Soup for the Soul LLC v. Meta Platforms, Inc., Beaulier v. Meta Platforms, Inc., Cognella, Inc. v. Meta Platforms, Inc., Elsevier Inc. et al. v. Meta Platforms, Inc. et al., Hobbs et al. v. Meta Platforms, Inc. et al., and Sullivan v. Meta Platforms, Inc. et al.). The court is scheduled to hear summary judgment motions in Entrepreneur Media, Carreyrou, Chicken Soup, and Cognella on February 25, 2027. Trial is scheduled in Entrepreneur Media for May 24, 2027.

On April 30, 2024, the European Commission opened formal proceedings against us to assess Facebook and Instagram's compliance with certain requirements under Articles 14, 16, 17, 20, 24, 25, 34, 35, and 40 of the DSA, regarding a range of topics including elections, content reporting and appeals, third-party access to data, political content recommendations, potential deceptive advertising and disinformation, including the way in which we identified, assessed, and mitigated against certain systemic risks on Instagram and Facebook. The Commission issued preliminary findings with respect to some of these topics on October 24, 2025 reflecting its preliminary view that we have infringed DSA obligations related to notice and action mechanisms for illegal content reporting, content moderation decision appeals, and data access for researchers. We have an opportunity to respond to the preliminary findings, and would also have an opportunity to appeal a final decision by the Commission.

We are also responding to other litigation and government inquiries and investigations in the United States and other parts of the world relating to advertising and other content on our platform and our alleged role in causing or contributing to various societal harms, including illegal activity with respect to drugs, fraud, deceptive activity or advertising, financial scams, unlawful discrimination, and other harms potentially impacting large numbers of people. We have received, and continue to receive, additional requests relating to these and other topics including in connection with ongoing inquiries and investigations.

In addition, we are subject to litigation and other proceedings involving law enforcement and other regulatory agencies, including in particular in Brazil, Russia, and other countries in Europe, in order to ascertain the precise scope of our legal obligations to comply with the requests of those agencies, including our obligation to disclose user information in particular circumstances. A number of such instances have resulted in the assessment of fines and penalties against us. We believe we have multiple legal grounds to satisfy these requests or prevail against associated fines and penalties, and we intend to vigorously defend such fines and penalties.
v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Capital Return Program

Share Repurchase

Our board of directors has authorized a share repurchase program of our Class A common stock, which commenced in January 2017 and does not have an expiration date. We did not repurchase any shares of Class A common stock during the six months ended June 30, 2026. As of both December 31, 2025 and June 30, 2026, $25.03 billion remained available and authorized for repurchases under this program.

Dividend
We paid quarterly dividends and dividend equivalents of $0.525 per share of common stock, totaling $1.17 billion and $1.14 billion for Class A common stock, respectively, and $180 million for Class B common stock, during the three months ended June 30, 2026 and 2025; and $2.34 billion and $2.29 billion for Class A common stock, respectively, and $360 million for Class B common stock, during the six months ended June 30, 2026 and 2025.

Share-based Compensation

Effective January 1, 2026, pursuant to the automatic increase provision under our 2025 Equity Incentive Plan (2025 Plan), our board of directors approved an increase of 55 million shares of Class A common stock reserved for issuance. As of June 30, 2026, there were 436 million shares of our Class A common stock reserved for future issuance under our 2025 Plan.

Restricted Stock Units

The following table summarizes our share-based compensation expense, which consists of the restricted stock unit (RSU) expense, by line item in our condensed consolidated statements of income (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cost of revenue$339 $278 $612 $549 
Research and development6,760 4,080 12,092 7,507 
Marketing and sales245 234 455 470 
General and administrative257 242 467 455 
Total$7,601 $4,834 $13,626 $8,981 

The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2026:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2025115,552 $500.68 
Granted78,904 $598.76 
Vested(31,798)$407.66 
Forfeited(16,194)$533.48 
Unvested at June 30, 2026146,464 $570.09 

The fair value as of the respective vesting dates of RSUs that vested during the three months ended June 30, 2026 and 2025 was $9.90 billion and $9.81 billion, respectively, and $20.00 billion and $21.34 billion, during the six months ended June 30, 2026 and 2025, respectively. The income tax benefit recognized related to awards vested during the three months ended June 30, 2026 and 2025 was $2.21 billion and $2.02 billion, respectively, and $4.44 billion and $4.38 billion during the six months ended June 30, 2026 and 2025, respectively.
As of June 30, 2026, unrecognized share-based compensation expense for RSU awards was $79.79 billion, which is expected to be recognized over a weighted-average period of approximately three years based on vesting under the award service conditions.

Stock Options

In the six months ended June 30, 2026, we issued nonstatutory stock options to purchase an aggregate of 20 million shares of our Class A common stock under the 2025 Plan to certain of our executives and employees. These options have a weighted-average exercise price of $2,788 per share and a weighted-average remaining contractual term of approximately five years as of June 30, 2026. Stock options become vested and exercisable at such times and under such service and market conditions as determined by our compensation, nominating & governance committee or its equity subcommittee, as appropriate. As of June 30, 2026, unrecognized share-based compensation expense related to these stock options was $471 million, which is expected to be recognized over a weighted-average period of approximately four years.
v3.26.1
Income Taxes
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in that quarter, including excess tax benefits or shortfall tax expenses from share-based compensation and changes in unrecognized tax benefits. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to significant volatility due to several factors, including our ability to accurately predict the proportion of our income (loss) before provision for income taxes in multiple jurisdictions, the effects of tax law changes, and the U.S. tax benefits from foreign-derived deduction eligible income.

Our gross unrecognized tax benefits were $18.74 billion and $16.45 billion as of June 30, 2026 and December 31, 2025, respectively. These unrecognized tax benefits are primarily related to the uncertainties with our research tax credits and transfer pricing with our foreign subsidiaries, which include licensing of intellectual property, providing services and other transactions. If the gross unrecognized tax benefits as of June 30, 2026 were realized in a future period, this would result in a tax benefit of $12.73 billion within our provision for income taxes at such time. The amount of interest and penalties accrued was $2.97 billion and $2.60 billion as of June 30, 2026 and December 31, 2025, respectively. We expect to continue to accrue unrecognized tax benefits for certain recurring tax positions.

Our effective tax rate for the six months ended June 30, 2026 was (5)%, compared to the U.S. federal statutory rate of 21%. The rate was lower than the statutory rate primarily due to a discrete income tax benefit of $8.03 billion recognized in the first quarter of 2026 in connection with U.S. Corporate Alternative Minimum Tax (CAMT) transitional relief provided under Treasury Notice 2026-7, tax effects from share-based compensation, research tax credits, and U.S. tax benefits from foreign-derived deduction eligible income. The impact of the CAMT regime limits the full benefit of foreign-derived deduction eligible income and excess tax benefits from share-based compensation in 2026. The income tax benefit of $8.03 billion partially offsets the $15.93 billion discrete charge recognized in the third quarter of 2025 upon enactment of the One Big Beautiful Bill Act.

Facebook, Inc. v. Comm'r of Internal Revenue

In July 2016, we received a Statutory Notice of Deficiency ("2010 Notice") from the Internal Revenue Service (IRS) related to transfer pricing with our foreign subsidiaries in conjunction with the examination of the 2010 tax year. While the Notice applies only to the 2010 tax year, the IRS stated that it will also apply its position for tax years subsequent to 2010 and has done so in years covered by the second Notice described below. We did not agree with the position of the IRS and filed a petition in the Tax Court challenging the Notice (Facebook, Inc. v. Comm'r of Internal Revenue (2010 tax year)). On January 15, 2020, the IRS' amendment to answer was filed stating that it planned to assert at trial an adjustment that is higher than the adjustment stated in the Notice. The first session of the trial was completed in March 2020 and the final trial session was completed in August 2022.

In March 2018, we received a second Notice ("2011-2013 Notice") from the IRS in conjunction with the examination of our 2011 through 2013 tax years. The IRS applied its position from the 2010 tax year to each of these years and also proposed new adjustments related to other transfer pricing with our foreign subsidiaries and certain tax credits that we claimed. We do not agree with the positions of the IRS in the second Notice and have filed a petition in the Tax Court challenging the second Notice (Facebook, Inc. v. Comm'r of Internal Revenue (2011-2013 tax years)).
On May 22, 2025, the Tax Court issued its opinion in Facebook, Inc. v. Comm'r of Internal Revenue (2010 tax year). The Tax Court opinion provided a value of $7.79 billion for the intellectual property transferred to our international subsidiary, which is $1.48 billion higher than we reported. We estimated the net tax effects based on the revised value, and our provision for income taxes increased due to the remeasurement of unrecognized tax benefits. The Tax Court will review tax estimates submitted by both parties and determine the tax due in its forthcoming Tax Court decision. We will reassess any remeasurement of unrecognized tax benefits in the period in which the Tax Court decision is entered. At that time, we and the IRS will each have the option to file an appeal to the Ninth Circuit U.S. Court of Appeals.

In September 2025, we received a Statutory Notice of Deficiency ("2017-2019 Notice") from the IRS, asserting an additional $15.89 billion in tax, plus interest and penalties for our 2017 through 2019 tax years. This 2017-2019 Notice primarily relates to transfer pricing with our foreign subsidiaries and other international tax adjustments. The largest issue in the 2017-2019 Notice relates to the same underlying transfer pricing transaction that we litigated in the 2010 tax year trial and for which we received a Tax Court opinion in May 2025. The IRS' proposed adjustments do not represent a final determination and do not reflect offsets, including reduction in tax we would owe under the mandatory transition tax on accumulated foreign earnings, global intangible low-taxed income tax, and foreign-derived intangible income deduction from the 2017 Tax Cuts and Jobs Act. We do not agree with the IRS' position and filed a petition with the Tax Court in December 2025 to challenge the 2017-2019 Notice. As of June 30, 2026, we believe our accrual for unrecognized tax benefits is adequate.
v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes our virtual and augmented reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments.

The following table sets forth our segment information of revenue, expenses, and income (loss) from operations (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Family of Apps:
Revenue$60,370 $47,146 $116,278 $89,048 
Employee compensation (1)
(14,571)(9,336)(26,650)(18,366)
Other costs and expenses (2)
(22,405)(12,839)(39,334)(23,946)
Income from operations$23,394 $24,971 $50,294 $46,736 
Reality Labs:
Revenue$431 $370 $833 $782 
Employee compensation (1)
(2,468)(2,523)(5,013)(5,301)
Other costs and expenses (3)
(2,582)(2,377)(4,467)(4,220)
Loss from operations$(4,619)$(4,530)$(8,647)$(8,739)
Total:
Revenue$60,801 $47,516 $117,111 $89,830 
Employee compensation (1)
(17,039)(11,859)(31,663)(23,667)
Other costs and expenses (2)(3)
(24,987)(15,216)(43,801)(28,166)
Income from operations$18,775 $20,441 $41,647 $37,997 
____________________________________
(1)Employee compensation includes employee payroll, share-based compensation, bonus, and employee benefits for medical care, retirement, insurances, and other expenses. Employee compensation for the three months ended June 30, 2026 also includes $1.18 billion of severance expenses related to the May 2026 headcount reduction of approximately 8,000 employees which impacted both FoA and RL segments.
(2)Includes costs and expenses in FoA segment for infrastructure, professional services, partner arrangements, marketing, facilities, legal-related costs, and other expenses.
(3)Includes costs and expenses in RL segment for inventory, professional services, marketing, infrastructure, facilities, and other expenses.
v3.26.1
Subsequent Event
 6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
In July 2026, we entered into an exclusivity agreement to co-develop a data center campus in El Paso, Texas, through a venture in which we would hold a 20% membership interest. The transaction is subject to the execution of definitive agreements and customary closing conditions.
Upon closing, expected in the third quarter of 2026, we estimate that we will contribute approximately $2.3 billion of held-for-sale assets, net of liabilities, consisting mostly of construction in progress and land, and receive a one-time distribution of approximately $1 billion. We will enter into lease agreements for the use of properties to be developed on the data center campus. We will also provide residual value guarantees with a maximum aggregate exposure of approximately $13 billion.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2026
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Terminated false
Christopher K. Cox [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On May 19, 2026, Christopher K. Cox, our Chief Product Officer, entered into a trading plan that provides for the sale of an aggregate of up to 80,000 shares of our Class A common stock. The plan will terminate on July 30, 2027, subject to early termination for certain specified events set forth in the plan.
Name Christopher K. Cox
Title Chief Product Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date May 19, 2026
Expiration Date July 30, 2027
Arrangement Duration 437 days
Aggregate Available 80,000
Aaron Anderson [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On May 29, 2026, Aaron Anderson, our Chief Accounting Officer, modified an existing trading plan (Original Trading Arrangement), which was adopted on February 6, 2026 and scheduled to terminate on January 14, 2028, subject to early termination for certain specified events set forth in the Original Trading Arrangement. The Original Trading Arrangement provided for the sale of up to all of the net shares received from two quarterly settlements of the restricted stock units underlying Mr. Anderson's outstanding equity awards and any future equity award grants that settle on such quarterly settlement dates. The modified trading arrangement (Modified Trading Arrangement) provides for the sale of such shares as well as up to an aggregate of 3,240 additional shares of our Class A common stock. The Modified Trading Arrangement will terminate on January 14, 2028, subject to early termination for certain specified events set forth in the Modified Trading Arrangement.
Aaron Anderson February 2026 Trading Arrangement [Member] | Aaron Anderson [Member]  
Trading Arrangements, by Individual  
Name Aaron Anderson
Title Chief Accounting Officer
Rule 10b5-1 Arrangement Terminated true
Termination Date May 29, 2026
Aaron Anderson May 2026 Trading Arrangement [Member] | Aaron Anderson [Member]  
Trading Arrangements, by Individual  
Name Aaron Anderson
Title Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date May 29, 2026,
Expiration Date January 14, 2028
Arrangement Duration 595 days
Aggregate Available 3,240
v3.26.1
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2025.

The condensed consolidated balance sheet as of December 31, 2025 included herein was derived from the audited financial statements as of that date, but does not include all disclosures including notes required by GAAP.

The condensed consolidated financial statements include the accounts of Meta Platforms, Inc. and its subsidiaries where we have controlling financial interests. All intercompany balances and transactions have been eliminated.

The accompanying condensed consolidated financial statements reflect all normal recurring adjustments that are necessary to present fairly the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year.
Use of Estimates
Use of Estimates

Preparation of condensed consolidated financial statements in conformity with GAAP requires the use of estimates and judgments that affect the reported amounts in the condensed consolidated financial statements and accompanying notes. These estimates form the basis for judgments we make about the carrying values of our assets and liabilities, which are not readily apparent from other sources. We base our estimates and judgments on historical information and on various other assumptions that we believe are reasonable under the circumstances. GAAP requires us to make estimates and judgments in several areas, including, but not limited to, those related to loss contingencies, income taxes, valuation of non-marketable equity investments, valuation of long-lived assets and their associated estimated useful lives, revenue recognition, valuation of goodwill, credit losses of available-for-sale debt securities, accounts receivable, and fair value of financial instruments and leases. These estimates are based on management's knowledge about current events, interpretation of regulations, and expectations about actions we may undertake in the future. Actual results could differ materially from those estimates.
Significant Accounting Policies
Significant Accounting Policies

There have been no material changes to our significant accounting policies from our Annual Report on Form 10-K for the year ended December 31, 2025.
Accounting Pronouncements Not Yet Adopted
Accounting Pronouncements Not Yet Adopted

In May 2026, the FASB issued Accounting Standards Update (ASU) No. 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). This standard establishes guidance for the recognition, measurement and disclosure of environmental credits and environmental credit obligations. The guidance will be effective for the annual periods beginning the year ending December 31, 2028 and interim periods within those annual periods. Early adoption is permitted. Upon adoption, the guidance is required to be applied on a retrospective basis. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures.
Earnings Per Share Basic EPS is computed by dividing net income by the weighted-average number of shares of our common stock outstanding. Diluted EPS is computed by dividing net income by the weighted-average number of fully diluted common stock outstanding and assumes the conversion of our Class B common stock to Class A common stock.
Segment Reporting
We report our financial results for our two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes our virtual and augmented reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments.
v3.26.1
Revenue (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue disaggregated by revenue source and by segment consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Advertising$59,363 $46,563 $114,387 $87,955 
Other revenue1,007 583 1,891 1,093 
Family of Apps60,370 47,146 116,278 89,048 
Reality Labs431 370 833 782 
Total revenue$60,801 $47,516 $117,111 $89,830 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
United States and Canada$23,863 $18,454 $45,129 $35,323 
Europe (1)
14,009 11,128 27,249 20,749 
Asia-Pacific16,073 12,858 31,518 24,097 
Rest of World (1)
6,856 5,076 13,215 9,661 
Total revenue$60,801 $47,516 $117,111 $89,830 
____________________________________
(1)Europe includes Russia and Turkey. Rest of World includes Africa, Latin America, and the Middle East.
v3.26.1
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Numerators and Denominators of Basic and Diluted EPS Computations for Common Stock
The numerators and denominators of the basic and diluted EPS computations for our common stock are calculated as follows (in millions, except per share amounts):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Basic EPS:
Numerator
Distributed earnings$1,353 $1,327 $2,699 $2,656 
Undistributed earnings14,495 17,010 39,922 32,325 
Net income$15,848 $18,337 $42,621 $34,981 
Denominator
Shares used in computation of basic EPS (1)
2,543 2,518 2,538 2,522 
Basic EPS$6.23 $7.28 $16.79 $13.87 
Diluted EPS:
Numerator
Net income for diluted EPS$15,848 $18,337 $42,621 $34,981 
Denominator
Shares used in computation of basic EPS (1)
2,543 2,518 2,538 2,522 
Effect of dilutive shares23 52 27 58 
Shares used in computation of diluted EPS2,566 2,570 2,565 2,580 
Diluted EPS$6.18 $7.14 $16.62 $13.56 
____________________________________
(1)Includes 2,201 million and 2,175 million shares of Class A common stock and 342 million and 343 million shares of Class B common stock, for the three months ended June 30, 2026 and 2025, respectively; and 2,196 million and 2,179 million shares of Class A common stock and 342 million and 343 million shares of Class B common stock, for the six months ended June 30, 2026 and 2025, respectively.
v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Financial Instruments [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following tables summarize our assets measured at fair value on a recurring basis and the classification by level of input within the fair value hierarchy (in millions):
  Fair Value Measurement at Reporting Date Using
June 30, 2026Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$5,223 $5,223 $— $— 
U.S. government securities2,077 2,077 — — 
Time deposits350 — 350 — 
Corporate debt securities4,483 — 4,483 — 
Total cash equivalents12,133 7,300 4,833 — 
Marketable securities:
U.S. government securities41,724 41,724 — — 
U.S. government agency securities940 940 — — 
Corporate debt securities28,591 — 28,591 — 
Marketable equity securities3,543 3,543 — — 
Total marketable securities74,798 46,207 28,591 — 
Restricted cash equivalents13,554 13,554 — — 
Other assets114 — — 114 
Total$100,599 $67,061 $33,424 $114 
  Fair Value Measurement at Reporting Date Using
December 31, 2025Quoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Cash equivalents:
Money market funds$27,928 $27,928 $— $— 
U.S. government securities1,623 1,623 — — 
Time deposits328 — 328 — 
Corporate debt securities1,603 — 1,603 — 
Total cash equivalents31,482 29,551 1,931 — 
Marketable securities:
U.S. government securities21,483 21,483 — — 
U.S. government agency securities767 767 — — 
Corporate debt securities17,477 — 17,477 — 
Marketable equity securities5,992 5,992 — — 
Total marketable securities45,719 28,242 17,477 — 
Restricted cash equivalents2,539 2,539 — — 
Other assets106 — — 106 
Total$79,846 $60,332 $19,408 $106 
Available-for-sale Marketable Securities
The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of June 30, 2026 and December 31, 2025, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
June 30, 2026
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$38,575 $(107)$212 $(3)$38,787 $(110)
U.S. government agency securities407 (3)25 — 432 (3)
Corporate debt securities12,413 (45)574 (5)12,987 (50)
Total$51,395 $(155)$811 $(8)$52,206 $(163)
December 31, 2025
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$1,491 $(2)$1,570 $(18)$3,061 $(20)
U.S. government agency securities17 — 25 — 42 — 
Corporate debt securities1,213 (1)1,534 (20)2,747 (21)
Total$2,721 $(3)$3,129 $(38)$5,850 $(41)
Marketable Securities by Contractual Maturities
The following table classifies our marketable debt securities by contractual maturities (in millions):
June 30, 2026
Due within one year$44,551 
Due after one year to five years26,704 
Total$71,255 
v3.26.1
Non-Marketable Equity Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Non-marketable Equity Securities The following table summarizes our non-marketable equity investments under measurement alternative and equity method (in millions):
June 30, 2026December 31, 2025
Initial cost$20,816 $20,271 
Cumulative upward adjustments559 429 
Cumulative impairment/downward adjustments(624)(624)
Non-marketable equity investments under measurement alternative20,751 20,076 
Non-marketable equity investments under equity method9,406 7,448 
Total carrying value of non-marketable equity investments$30,157 $27,524 
v3.26.1
Property and Equipment (Tables)
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment
Property and equipment, net consists of the following (in millions): 
June 30, 2026December 31, 2025
Land$3,667 $3,687 
Servers and network assets119,683 98,040 
Buildings61,037 55,568 
Leasehold improvements8,464 8,346 
Equipment and other10,209 9,377 
Finance lease right-of-use assets9,467 8,187 
Construction in progress (1)
80,345 50,521 
Property and equipment, gross292,872 233,726 
Less: Accumulated depreciation(67,148)(57,326)
Property and equipment, net$225,724 $176,400 
____________________________________
(1)Construction in progress includes costs mostly related to construction of data centers, servers and network infrastructure.
v3.26.1
Acquisitions, Goodwill, and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill
The following table presents the changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2026 (in millions):
Family of AppsReality LabsTotal
December 31, 2025$23,028 $1,506 $24,534 
Acquisitions41 — 41 
Reclassified to held-for-sale(1,266)— (1,266)
Adjustments96 1 97 
June 30, 2026$21,899 $1,507 $23,406 
v3.26.1
Long-term Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments The following table summarizes our fixed-senior unsecured notes (the Notes) and the carrying amount of our long-term debt (in millions, except percentages):
MaturityStated Interest RateEffective Interest RateJune 30, 2026December 31, 2025
August 2022 Notes2027 - 2062
3.50% - 4.65%
3.63% - 4.71%
$10,000 $10,000 
May 2023 Notes2028 - 2063
4.60% - 5.75%
4.68% - 5.79%
8,500 8,500 
August 2024 Notes2029 - 2064
4.30% - 5.55%
4.42% - 5.60%
10,500 10,500 
November 2025 Notes2030 - 2065
4.20% - 5.75%
4.27% - 5.77%
30,000 30,000 
May 2026 Notes2031 - 2066
4.55% - 6.45%
4.60% - 6.48%
25,000 — 
Total face amount of long-term debt84,000 59,000 
Unamortized discount and issuance costs, net(336)(256)
Long-term debt$83,664 $58,744 
Schedule of Maturities of Long-Term Debt
As of June 30, 2026, future principal payments for the Notes, by year, are as follows (in millions):
Remainder of 2026$— 
20272,750 
20281,500 
20291,000 
20305,000 
Thereafter73,750 
Total$84,000 
v3.26.1
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes our share-based compensation expense, which consists of the restricted stock unit (RSU) expense, by line item in our condensed consolidated statements of income (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cost of revenue$339 $278 $612 $549 
Research and development6,760 4,080 12,092 7,507 
Marketing and sales245 234 455 470 
General and administrative257 242 467 455 
Total$7,601 $4,834 $13,626 $8,981 
Restricted Stock Units Award Activity
The following table summarizes the activities for our unvested RSUs for the six months ended June 30, 2026:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2025115,552 $500.68 
Granted78,904 $598.76 
Vested(31,798)$407.66 
Forfeited(16,194)$533.48 
Unvested at June 30, 2026146,464 $570.09 
v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
The following table sets forth our segment information of revenue, expenses, and income (loss) from operations (in millions):
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Family of Apps:
Revenue$60,370 $47,146 $116,278 $89,048 
Employee compensation (1)
(14,571)(9,336)(26,650)(18,366)
Other costs and expenses (2)
(22,405)(12,839)(39,334)(23,946)
Income from operations$23,394 $24,971 $50,294 $46,736 
Reality Labs:
Revenue$431 $370 $833 $782 
Employee compensation (1)
(2,468)(2,523)(5,013)(5,301)
Other costs and expenses (3)
(2,582)(2,377)(4,467)(4,220)
Loss from operations$(4,619)$(4,530)$(8,647)$(8,739)
Total:
Revenue$60,801 $47,516 $117,111 $89,830 
Employee compensation (1)
(17,039)(11,859)(31,663)(23,667)
Other costs and expenses (2)(3)
(24,987)(15,216)(43,801)(28,166)
Income from operations$18,775 $20,441 $41,647 $37,997 
____________________________________
(1)Employee compensation includes employee payroll, share-based compensation, bonus, and employee benefits for medical care, retirement, insurances, and other expenses. Employee compensation for the three months ended June 30, 2026 also includes $1.18 billion of severance expenses related to the May 2026 headcount reduction of approximately 8,000 employees which impacted both FoA and RL segments.
(2)Includes costs and expenses in FoA segment for infrastructure, professional services, partner arrangements, marketing, facilities, legal-related costs, and other expenses.
(3)Includes costs and expenses in RL segment for inventory, professional services, marketing, infrastructure, facilities, and other expenses.
v3.26.1
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Disaggregation of Revenue [Line Items]        
Revenue $ 60,801 $ 47,516 $ 117,111 $ 89,830
United States and Canada        
Disaggregation of Revenue [Line Items]        
Revenue 23,863 18,454 45,129 35,323
Europe        
Disaggregation of Revenue [Line Items]        
Revenue 14,009 11,128 27,249 20,749
Asia-Pacific        
Disaggregation of Revenue [Line Items]        
Revenue 16,073 12,858 31,518 24,097
Rest Of World        
Disaggregation of Revenue [Line Items]        
Revenue 6,856 5,076 13,215 9,661
Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue 60,370 47,146 116,278 89,048
Reality Labs        
Disaggregation of Revenue [Line Items]        
Revenue 431 370 833 782
Advertising | Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue 59,363 46,563 114,387 87,955
Other revenue | Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue $ 1,007 $ 583 $ 1,891 $ 1,093
v3.26.1
Revenue - Narrative (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]    
Total deferred revenue balance $ 1,160 $ 1,080
v3.26.1
Earnings per Share - Narrative (Details) - shares
shares in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Earnings Per Share [Abstract]        
Shares excluded from EPS calc (in shares) 60 1 47 1
v3.26.1
Earnings per Share - Basic and Diluted EPS (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Numerator        
Distributed earnings $ 1,353 $ 1,327 $ 2,699 $ 2,656
Undistributed earnings 14,495 17,010 39,922 32,325
Net income $ 15,848 $ 18,337 $ 42,621 $ 34,981
Denominator        
Shares used in computation of basic EPS (in shares) 2,543 2,518 2,538 2,522
Basic EPS (in dollars per share) $ 6.23 $ 7.28 $ 16.79 $ 13.87
Numerator        
Net income for diluted EPS $ 15,848 $ 18,337 $ 42,621 $ 34,981
Denominator        
Shares used in computation of basic EPS (in shares) 2,543 2,518 2,538 2,522
Effect of dilutive RSUs (in shares) 23 52 27 58
Shares used in computation of diluted EPS (in shares) 2,566 2,570 2,565 2,580
Diluted EPS (in dollars per share) $ 6.18 $ 7.14 $ 16.62 $ 13.56
Common Class A        
Denominator        
Shares used in computation of basic EPS (in shares) 2,201 2,175 2,196 2,179
Denominator        
Shares used in computation of basic EPS (in shares) 2,201 2,175 2,196 2,179
Common Class B        
Denominator        
Shares used in computation of basic EPS (in shares) 342 343 342 343
Denominator        
Shares used in computation of basic EPS (in shares) 342 343 342 343
v3.26.1
Financial Instruments - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: $ 12,133 $ 31,482
Marketable securities: 71,255  
Marketable equity securities 3,543 5,992
Total marketable securities 74,798 45,719
Restricted cash equivalents 13,554 2,539
Other assets 114 106
Total 100,599 79,846
U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 41,724 21,483
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 940 767
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 28,591 17,477
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 5,223 27,928
U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 2,077 1,623
Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 350 328
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 4,483 1,603
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 7,300 29,551
Marketable equity securities 3,543 5,992
Total marketable securities 46,207 28,242
Restricted cash equivalents 13,554 2,539
Other assets 0 0
Total 67,061 60,332
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 41,724 21,483
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 940 767
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 5,223 27,928
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 2,077 1,623
Quoted Prices in Active Markets for Identical Assets (Level 1) | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 4,833 1,931
Marketable equity securities 0 0
Total marketable securities 28,591 17,477
Restricted cash equivalents 0 0
Other assets 0 0
Total 33,424 19,408
Significant Other Observable Inputs (Level 2) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Other Observable Inputs (Level 2) | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 28,591 17,477
Significant Other Observable Inputs (Level 2) | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Significant Other Observable Inputs (Level 2) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Significant Other Observable Inputs (Level 2) | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 350 328
Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 4,483 1,603
Significant Unobservable Inputs (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Marketable equity securities 0 0
Total marketable securities 0 0
Restricted cash equivalents 0 0
Other assets 114 106
Total 114 106
Significant Unobservable Inputs (Level 3) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Unobservable Inputs (Level 3) | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Unobservable Inputs (Level 3) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 0 0
Significant Unobservable Inputs (Level 3) | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Significant Unobservable Inputs (Level 3) | U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Significant Unobservable Inputs (Level 3) | Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 0 0
Significant Unobservable Inputs (Level 3) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: $ 0 $ 0
v3.26.1
Financial Instruments - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis          
Restricted cash equivalents $ 13,554   $ 13,554   $ 2,539
Accumulated unrealized gain (loss) on marketable debt securities, before tax         $ 300
Unrealized gain (loss) on marketable equity securities (733) $ (511) (2,300) $ (374)  
Money market funds          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis          
Restricted cash equivalents $ 10,800   $ 10,800    
v3.26.1
Financial Instruments - Available-for-sale Marketable Securities (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Marketable Securities [Line Items]    
Less than 12 months, fair value $ 51,395 $ 2,721
Less than 12 months, unrealized losses (155) (3)
12 months or greater, fair value 811 3,129
12 months or greater, unrealized losses (8) (38)
Fair value 52,206 5,850
Unrealized losses (163) (41)
U.S. government securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 38,575 1,491
Less than 12 months, unrealized losses (107) (2)
12 months or greater, fair value 212 1,570
12 months or greater, unrealized losses (3) (18)
Fair value 38,787 3,061
Unrealized losses (110) (20)
U.S. government agency securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 407 17
Less than 12 months, unrealized losses (3) 0
12 months or greater, fair value 25 25
12 months or greater, unrealized losses 0 0
Fair value 432 42
Unrealized losses (3) 0
Corporate debt securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 12,413 1,213
Less than 12 months, unrealized losses (45) (1)
12 months or greater, fair value 574 1,534
12 months or greater, unrealized losses (5) (20)
Fair value 12,987 2,747
Unrealized losses $ (50) $ (21)
v3.26.1
Financial Instruments - Contractual Maturities of Marketable Debt Securities (Details)
$ in Millions
Jun. 30, 2026
USD ($)
Contractual Maturities of Marketable Securities  
Due within one year $ 44,551
Due after one year to five years 26,704
Total $ 71,255
v3.26.1
Non-Marketable Equity Investments - Summary of Non-Marketable Equity Securities Measured Using Measurement Alternative (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]    
Initial cost $ 20,816 $ 20,271
Cumulative upward adjustments 559 429
Cumulative impairment/downward adjustments (624) (624)
Non-marketable equity investments under measurement alternative 20,751 20,076
Non-marketable equity investments under equity method 9,406 7,448
Total carrying value of non-marketable equity investments $ 30,157 $ 27,524
v3.26.1
Non-Marketable Equity Investments - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended
Oct. 31, 2025
Jun. 30, 2026
Dec. 31, 2025
Equity Securities without Readily Determinable Fair Value [Line Items]      
Operating and finance leases not yet commenced   $ 278,990  
Carrying value of equity method investment   9,406 $ 7,448
Variable interest entity, maximum exposure to loss   6,410 5,580
Data Center Campus in Louisiana      
Equity Securities without Readily Determinable Fair Value [Line Items]      
Equity method investment, ownership percentage 20.00%    
Estimated development costs $ 27,000    
Operating and finance leases not yet commenced $ 12,310    
Leases not yet commenced, term (in years) 4 years    
Leases not yet commenced, optional renewal term, total lease period (in years) 20 years    
Lease not yet commenced, residual value guarantee, maximum $ 28,000    
Carrying value of equity method investment   2,920 1,830
Variable interest entity, maximum exposure to loss   $ 46,030 $ 45,950
v3.26.1
Property and Equipment - Summary (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Property, Plant, and Equipment    
Finance lease right-of-use assets $ 9,467 $ 8,187
Property and equipment, gross 292,872 233,726
Less: Accumulated depreciation (67,148) (57,326)
Property and equipment, net 225,724 176,400
Land    
Property, Plant, and Equipment    
Property and equipment, gross 3,667 3,687
Servers and network assets    
Property, Plant, and Equipment    
Property and equipment, gross 119,683 98,040
Buildings    
Property, Plant, and Equipment    
Property and equipment, gross 61,037 55,568
Leasehold improvements    
Property, Plant, and Equipment    
Property and equipment, gross 8,464 8,346
Equipment and other    
Property, Plant, and Equipment    
Property and equipment, gross 10,209 9,377
Construction in progress    
Property, Plant, and Equipment    
Property and equipment, gross $ 80,345 $ 50,521
v3.26.1
Property and Equipment - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Mar. 31, 2026
Property, Plant, and Equipment          
Depreciation $ 6,000 $ 4,280 $ 11,670 $ 8,120  
Disposal Group, Held-for-Sale, Not Discontinued Operations | Construction in Progress and Land Held-for-Sale          
Property, Plant, and Equipment          
Assets held-for-sale 2,030   2,030   $ 1,480
Servers and network assets          
Property, Plant, and Equipment          
Depreciation $ 4,620 $ 3,120 $ 9,010 $ 5,740  
v3.26.1
Acquisitions and Goodwill - Change in Carrying Amount of Goodwill (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Goodwill    
Goodwill, beginning balance   $ 24,534
Acquisitions   41
Reclassified to held-for-sale $ (1,270) (1,266)
Adjustments   97
Goodwill, ending balance 23,406 23,406
Family of Apps    
Goodwill    
Goodwill, beginning balance   23,028
Acquisitions   41
Reclassified to held-for-sale   (1,266)
Adjustments   96
Goodwill, ending balance 21,899 21,899
Reality Labs    
Goodwill    
Goodwill, beginning balance   1,506
Acquisitions   0
Reclassified to held-for-sale   0
Adjustments   1
Goodwill, ending balance $ 1,507 $ 1,507
v3.26.1
Acquisitions and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]    
Reclassified to held-for-sale $ 1,270 $ 1,266
v3.26.1
Long-term Debt - Narrative (Details)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
May 31, 2026
USD ($)
series
Dec. 31, 2025
USD ($)
Debt Instrument            
Interest expense, debt $ 754 $ 232 $ 1,290 $ 463    
May 2026 Notes            
Debt Instrument            
Debt instrument, face amount         $ 25,000  
Number of series | series         6  
Senior Notes | Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2)            
Debt Instrument            
Long-term debt, fair value $ 79,750   $ 79,750     $ 57,220
v3.26.1
Long-term Debt - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Debt Instrument    
Total face amount of long-term debt $ 84,000 $ 59,000
Unamortized discount and issuance costs, net (336) (256)
Long-term debt 83,664 58,744
August 2022 Notes    
Debt Instrument    
Total face amount of long-term debt $ 10,000 10,000
August 2022 Notes | Minimum    
Debt Instrument    
Stated Interest Rate 3.50%  
Effective Interest Rate 3.63%  
August 2022 Notes | Maximum    
Debt Instrument    
Stated Interest Rate 4.65%  
Effective Interest Rate 4.71%  
May 2023 Notes    
Debt Instrument    
Total face amount of long-term debt $ 8,500 8,500
May 2023 Notes | Minimum    
Debt Instrument    
Stated Interest Rate 4.60%  
Effective Interest Rate 4.68%  
May 2023 Notes | Maximum    
Debt Instrument    
Stated Interest Rate 5.75%  
Effective Interest Rate 5.79%  
August 2024 Notes    
Debt Instrument    
Total face amount of long-term debt $ 10,500 10,500
August 2024 Notes | Minimum    
Debt Instrument    
Stated Interest Rate 4.30%  
Effective Interest Rate 4.42%  
August 2024 Notes | Maximum    
Debt Instrument    
Stated Interest Rate 5.55%  
Effective Interest Rate 5.60%  
November 2025 Notes    
Debt Instrument    
Total face amount of long-term debt $ 30,000 30,000
November 2025 Notes | Minimum    
Debt Instrument    
Stated Interest Rate 4.20%  
Effective Interest Rate 4.27%  
November 2025 Notes | Maximum    
Debt Instrument    
Stated Interest Rate 5.75%  
Effective Interest Rate 5.77%  
May 2026 Notes    
Debt Instrument    
Total face amount of long-term debt $ 25,000 $ 0
May 2026 Notes | Minimum    
Debt Instrument    
Stated Interest Rate 4.55%  
Effective Interest Rate 4.60%  
May 2026 Notes | Maximum    
Debt Instrument    
Stated Interest Rate 6.45%  
Effective Interest Rate 6.48%  
v3.26.1
Long-term Debt - Schedule of Maturities of Long-Term Debt (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Maturities of Long-Term Debt [Abstract]    
Remainder of 2026 $ 0  
2027 2,750  
2028 1,500  
2029 1,000  
2030 5,000  
Thereafter 73,750  
Total $ 84,000 $ 59,000
v3.26.1
Commitments and Contingencies (Details)
member in Thousands, € in Millions
 1 Months Ended 6 Months Ended
Jun. 09, 2026
Mar. 25, 2026
USD ($)
Mar. 24, 2026
USD ($)
Nov. 19, 2025
EUR (€)
Aug. 01, 2025
USD ($)
member
Nov. 18, 2024
EUR (€)
Apr. 01, 2024
judicialCase
Dec. 22, 2022
USD ($)
Jul. 27, 2018
classAction
May 31, 2026
USD ($)
Apr. 30, 2025
EUR (€)
plaintiff
Apr. 30, 2020
USD ($)
Jun. 30, 2026
USD ($)
stateAttorneyGeneral
state
Jul. 29, 2026
USD ($)
Dec. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
Apr. 29, 2025
mediaCompany
Oct. 24, 2024
radioAndTelevisionPublisher
Dec. 01, 2023
mediaCompany
May 12, 2023
EUR (€)
Loss Contingencies [Line Items]                                        
Operating and finance leases not yet commenced                         $ 278,990,000,000              
Non-cancelable contractual obligations                         349,310,000,000              
Contractual obligations due in 2026                         53,520,000,000              
Contractual obligations due in 2027                         81,650,000,000              
Cash and cash equivalents                         15,462,000,000   $ 35,873,000,000 $ 12,005,000,000        
Amount awarded to other party               $ 725,000,000                        
Litigation, status update, period following decision in case 30 days                                      
Number of class actions filed             2   2                      
FTC Inquiry                                        
Loss Contingencies [Line Items]                                        
Payment of penalty for settlement                       $ 5,000,000,000.0                
Loss contingency, damages sought, value                         $ 62,850,000,000              
IDPC Inquiry                                        
Loss Contingencies [Line Items]                                        
Loss contingency accrual | €                                       € 1,200
European Commission, Statement of Objections                                        
Loss Contingencies [Line Items]                                        
Imposed fine | €           € 798                            
European Commission, Subscription For No Ads                                        
Loss Contingencies [Line Items]                                        
Imposed fine | €                     € 200                  
Frasco v. Flo Health, Inc.                                        
Loss Contingencies [Line Items]                                        
Damages sought, value per class member         $ 5,000                              
Number of class members | member         1,250                              
Asociacion de Medios de Informacion (AMI) v. Meta Ireland | Meta Platforms Ireland Limited                                        
Loss Contingencies [Line Items]                                        
Number of entities that filed a claim | mediaCompany                                     87  
Loss contingency, damages awarded, value | €       € 542                                
Union de Televisiones Comerciales Asociadas (UTECA) v. Meta Ireland | Meta Platforms Ireland Limited                                        
Loss Contingencies [Line Items]                                        
Number of entities that filed a claim | radioAndTelevisionPublisher                                   10    
Amaury et al. v. Meta Platforms Ireland Limited | Meta Platforms Ireland Limited                                        
Loss Contingencies [Line Items]                                        
Number of entities that filed a claim | mediaCompany                                 67      
Number of additional plaintiffs that intervened | plaintiff                     34                  
Youth-Related Actions, Bellwether Trials                                        
Loss Contingencies [Line Items]                                        
Loss contingency, damages awarded, percentage   70.00%                                    
Youth-Related Actions, Bellwether Trials | Meta & Youtube                                        
Loss Contingencies [Line Items]                                        
Loss contingency, damages awarded, value   $ 6,000,000                                    
Youth-Related Actions, Bellwether Trials | Youtube                                        
Loss Contingencies [Line Items]                                        
Loss contingency, damages awarded, percentage   30.00%                                    
Youth-Related Actions, State Attorney General Cases                                        
Loss Contingencies [Line Items]                                        
Loss contingency, damages sought, value                   $ 953,000,000                    
Number of entities that filed a claim | state                         4              
Loss contingency, damages awarded, value     $ 375,000,000                                  
Number of state attorneys general who have sued in multidistrict litigation | stateAttorneyGeneral                         29              
Reclassification, Other | Money market funds                                        
Loss Contingencies [Line Items]                                        
Cash and cash equivalents                         $ (10,800,000,000)              
Money market funds | Reclassification, Other                                        
Loss Contingencies [Line Items]                                        
Restricted cash equivalents                         10,800,000,000              
Contingent Obligation to Purchase Cloud Capacity                                        
Loss Contingencies [Line Items]                                        
Other commitment                         $ 14,720,000,000              
Other commitments, period                         5 years              
Subsequent Event                                        
Loss Contingencies [Line Items]                                        
Operating and finance leases not yet commenced                           $ 68,000,000,000            
Minimum                                        
Loss Contingencies [Line Items]                                        
Operating lease, not yet commenced, term (in years)                         1 year              
Finance lease, not yet commenced, term (in years)                         1 year              
Other commitments, period                         9 years              
Minimum | Subsequent Event                                        
Loss Contingencies [Line Items]                                        
Operating lease, not yet commenced, term (in years)                           18 years            
Finance lease, not yet commenced, term (in years)                           18 years            
Maximum                                        
Loss Contingencies [Line Items]                                        
Operating lease, not yet commenced, term (in years)                         30 years              
Finance lease, not yet commenced, term (in years)                         30 years              
Other commitments, period                         25 years              
Maximum | Subsequent Event                                        
Loss Contingencies [Line Items]                                        
Operating lease, not yet commenced, term (in years)                           20 years            
Finance lease, not yet commenced, term (in years)                           20 years            
v3.26.1
Stockholders' Equity - Capital Return Program (Details) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
January 2017 Share Repurchase Program    
Share-based Compensation Arrangement by Share-based Payment Award    
Remaining authorized repurchase amount $ 25,030 $ 25,030
v3.26.1
Stockholders' Equity - Schedule of Dividend & dividend Equivalent Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dividends Payable [Line Items]        
Dividends per share (in dollars per share) $ 0.525 $ 0.525 $ 1.05 $ 1.05
Common Class A        
Dividends Payable [Line Items]        
Payment of dividends $ 1,170 $ 1,140 $ 2,340 $ 2,290
Common Class B        
Dividends Payable [Line Items]        
Payment of dividends $ 180 $ 180 $ 360 $ 360
v3.26.1
Stockholders' Equity - Share-based Compensation Plans (Details) - Equity Incentive Plan 2025 - shares
shares in Millions
Jun. 30, 2026
Jan. 01, 2026
Share-based Compensation Arrangement by Share-based Payment Award    
Increase in common stock reserved for issuance (in shares)   55
Equity incentive plan shares authorized (in shares) 436  
v3.26.1
Stockholders' Equity - Summary of Share-Based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award        
Total $ 7,601 $ 4,834    
Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Total     $ 13,626 $ 8,981
Income Statement Location [Axis]: us-gaap:CostOfRevenue | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Total 339 278 612 549
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Total 257 242 467 455
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Total 6,760 4,080 12,092 7,507
Income Statement Location [Axis]: us-gaap:SellingAndMarketingExpense | Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Total $ 245 $ 234 $ 455 $ 470
v3.26.1
Stockholders' Equity - Restricted Stock Units (Details) - Restricted Stock Units (RSUs)
shares in Thousands
 6 Months Ended
Jun. 30, 2026
$ / shares
shares
Number of Shares  
Unvested at beginning of period (in shares) | shares 115,552
Granted (in shares) | shares 78,904
Vested (in shares) | shares (31,798)
Forfeited (in shares) | shares (16,194)
Unvested at end of period (in shares) | shares 146,464
Weighted-Average Grant Date Fair Value Per Share  
Unvested at beginning of period (in dollars per share) | $ / shares $ 500.68
Granted (in dollars per share) | $ / shares 598.76
Vested (in dollars per share) | $ / shares 407.66
Forfeited (in dollars per share) | $ / shares 533.48
Unvested at end of period (in dollars per share) | $ / shares $ 570.09
v3.26.1
Stockholders' Equity - Additional Award Disclosures (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Fair value of vested RSUs $ 9,900 $ 9,810 $ 20,000 $ 21,340
Tax benefit 2,210 $ 2,020 4,440 $ 4,380
Unrecognized share-based compensation expense, non-options 79,790   $ 79,790  
Unrecognized share-based compensation expense recognition period (in years)     3 years  
Employee Stock Option        
Share-based Compensation Arrangement by Share-based Payment Award        
Unrecognized share-based compensation expense recognition period (in years)     4 years  
Stock options granted (in shares)     20  
Stock options granted (in dollars per share)     $ 2,788  
Weighted-average remaining contractual term, outstanding     5 years  
Unrecognized share-based compensation expense, options $ 471   $ 471  
v3.26.1
Income Taxes (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
Sep. 30, 2025
Mar. 31, 2026
Sep. 30, 2025
Jun. 30, 2026
Dec. 31, 2025
May 22, 2025
Income Tax Contingency [Line Items]            
Unrecognized tax benefits       $ 18,740 $ 16,450  
Unrecognized tax benefits that would result in tax benefit if realized       12,730    
Accrued interest and penalties       $ 2,970 $ 2,600  
Effective income tax rate reconciliation, percent       (5.00%)    
Discrete charge (benefit) related to new legislation   $ (8,030) $ 15,930      
Internal Revenue Service (IRS)            
Income Tax Contingency [Line Items]            
Intangible assets transferred to subsidiary, value           $ 7,790
Intangible asset transferred to subsidiary, increase in reported value           $ 1,480
Income tax examination, estimate of possible loss $ 15,890          
v3.26.1
Segment Information - Narrative (Details)
 6 Months Ended
Jun. 30, 2026
reportable_segment
Segment Reporting [Abstract]  
Number of reportable segments 2
v3.26.1
Segment Information - Segment Information of Revenue and Income (Details)
employee in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
employee
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Segment Reporting [Line Items]        
Revenue $ 60,801 $ 47,516 $ 117,111 $ 89,830
Employee compensation (17,039) (11,859) (31,663) (23,667)
Other costs and expenses (24,987) (15,216) (43,801) (28,166)
Income (loss) from operations 18,775 20,441 41,647 37,997
Severance costs $ 1,180      
Reduction in workforce, number of positions eliminated | employee 8      
Family of Apps        
Segment Reporting [Line Items]        
Revenue $ 60,370 47,146 116,278 89,048
Employee compensation (14,571) (9,336) (26,650) (18,366)
Other costs and expenses (22,405) (12,839) (39,334) (23,946)
Income (loss) from operations 23,394 24,971 50,294 46,736
Reality Labs        
Segment Reporting [Line Items]        
Revenue 431 370 833 782
Employee compensation (2,468) (2,523) (5,013) (5,301)
Other costs and expenses (2,582) (2,377) (4,467) (4,220)
Income (loss) from operations $ (4,619) $ (4,530) $ (8,647) $ (8,739)
v3.26.1
Subsequent Event (Details) - Subsequent Event - Forecast
$ in Billions
Sep. 30, 2026
USD ($)
Subsequent Event [Line Items]  
Lease not yet commenced, residual value guarantee, maximum $ 13.0
Data Center Campus in Texas  
Subsequent Event [Line Items]  
Equity method investment, ownership percentage 20.00%
Assets and liabilities held-for-sale, net, contributed to joint venture $ 2.3
Venture, one-time distribution $ 1.0