META PLATFORMS, INC., 10-Q filed on 10/30/2025
Quarterly Report
v3.25.3
Cover Page - shares
 9 Months Ended
Sep. 30, 2025
Oct. 24, 2025
Entity Information    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
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, $0.000006 par value  
Trading Symbol META  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Entity Central Index Key 0001326801  
Current Fiscal Year End Date --12-31  
Class A    
Entity Information    
Entity Common Stock, Shares Outstanding   2,177,889,269
Class B    
Entity Information    
Entity Common Stock, Shares Outstanding   342,638,328
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 10,187 $ 43,889
Marketable securities 34,261 33,926
Accounts receivable, net 17,297 16,994
Prepaid expenses and other current assets 11,373 5,236
Total current assets 73,118 100,045
Non-marketable equity investments 25,074 6,070
Property and equipment, net 160,270 121,346
Operating lease right-of-use assets 17,372 14,922
Goodwill 21,158 20,654
Other assets 6,852 13,017
Total assets 303,844 276,054
Current liabilities:    
Accounts payable 7,798 7,687
Operating lease liabilities, current 2,113 1,942
Accrued expenses and other current liabilities 27,047 23,967
Total current liabilities 36,958 33,596
Operating lease liabilities, non-current 20,113 18,292
Long-term debt 28,834 28,826
Long-term income taxes 11,738 9,987
Other liabilities 12,135 2,716
Total liabilities 109,778 93,417
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.000006 par value; 5,000 million Class A shares authorized, 2,178 million and 2,190 million shares issued and outstanding, as of September 30, 2025 and December 31, 2024, respectively; 4,141 million Class B shares authorized, 343 million and 344 million shares issued and outstanding, as of September 30, 2025 and December 31, 2024, respectively 0 0
Additional paid-in capital 92,330 83,228
Accumulated other comprehensive income (loss) 159 (3,097)
Retained earnings 101,577 102,506
Total stockholders' equity 194,066 182,637
Total liabilities and stockholders' equity $ 303,844 $ 276,054
v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Millions
Sep. 30, 2025
Dec. 31, 2024
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) 2,178 2,190
Common stock, shares outstanding (in shares) 2,178 2,190
Class B Common Stock    
Stockholders' equity:    
Common stock, shares authorized (in shares) 4,141 4,141
Common stock, shares issued (in shares) 343 344
Common stock, shares outstanding (in shares) 343 344
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenue $ 51,242 $ 40,589 $ 141,073 $ 116,116
Costs and expenses:        
Cost of revenue 9,206 7,375 25,269 21,322
Research and development 15,144 11,177 40,237 31,693
Marketing and sales 2,845 2,822 8,581 8,107
General and administrative 3,512 1,865 8,455 8,978
Total costs and expenses 30,707 23,239 82,542 70,100
Income (loss) from operations 20,535 17,350 58,531 46,016
Interest and other income, net 1,128 472 2,047 1,095
Income before provision for income taxes 21,663 17,822 60,578 47,111
Provision for income taxes 18,954 2,134 22,888 5,589
Net income $ 2,709 $ 15,688 $ 37,690 $ 41,522
Earnings per share:        
Basic (in dollars per share) $ 1.08 $ 6.20 $ 14.96 $ 16.37
Diluted (in dollars per share) $ 1.05 $ 6.03 $ 14.62 $ 15.88
Weighted-average shares used to compute earnings per share:        
Basic (in shares) 2,517 2,529 2,520 2,536
Diluted (in shares) 2,572 2,600 2,578 2,615
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Comprehensive Income [Abstract]        
Net income $ 2,709 $ 15,688 $ 37,690 $ 41,522
Other comprehensive income (loss):        
Change in foreign currency translation adjustment, net of tax (162) 937 2,598 243
Change in unrealized gain (loss) on available-for-sale investments and other, net of tax 92 566 658 720
Comprehensive income $ 2,639 $ 17,191 $ 40,946 $ 42,485
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Class A and Class B Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Balances at beginning of period (in shares) at Dec. 31, 2023   2,561      
Balances at beginning of period at Dec. 31, 2023 $ 153,168 $ 0 $ 73,253 $ (2,155) $ 82,070
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 41,522       41,522
Other comprehensive income (loss) 963     963  
Issuance of common stock (in shares)   49      
Shares withheld related to net share settlement (in shares)   (21)      
Shares withheld related to net share settlement (9,913)   (4,937)   (4,976)
Share-based compensation 12,428   12,428    
Share repurchases (in shares)   (65)      
Share repurchases (29,807)       (29,807)
Dividends and dividend equivalents declared [1] (3,837)       (3,837)
Other 5   5    
Balances at end of period (in shares) at Sep. 30, 2024   2,524      
Balances at end of period at Sep. 30, 2024 164,529 $ 0 80,749 (1,192) 84,972
Balances at beginning of period (in shares) at Jun. 30, 2024   2,533      
Balances at beginning of period at Jun. 30, 2024 156,763 $ 0 78,270 (2,695) 81,188
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 15,688       15,688
Other comprehensive income (loss) 1,503     1,503  
Issuance of common stock (in shares)   16      
Shares withheld related to net share settlement (in shares)   (7)      
Shares withheld related to net share settlement (3,544)   (1,776)   (1,768)
Share-based compensation 4,250   4,250    
Share repurchases (in shares)   (18)      
Share repurchases (8,856)       (8,856)
Dividends and dividend equivalents declared [1] (1,280)       (1,280)
Other 5   5    
Balances at end of period (in shares) at Sep. 30, 2024   2,524      
Balances at end of period at Sep. 30, 2024 164,529 $ 0 80,749 (1,192) 84,972
Balances at beginning of period (in shares) at Dec. 31, 2024   2,534      
Balances at beginning of period at Dec. 31, 2024 182,637 $ 0 83,228 (3,097) 102,506
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 37,690       37,690
Other comprehensive income (loss) 3,256     3,256  
Issuance of common stock (in shares)   47      
Issuance of common stock 450   450    
Shares withheld related to net share settlement (in shares)   (20)      
Shares withheld related to net share settlement (14,128)   (5,880)   (8,248)
Share-based compensation 14,537   14,537    
Share repurchases (in shares)   (40)      
Share repurchases (26,319)       (26,319)
Dividends and dividend equivalents declared [1] (4,052)       (4,052)
Other (5)   (5)    
Balances at end of period (in shares) at Sep. 30, 2025   2,521      
Balances at end of period at Sep. 30, 2025 194,066 $ 0 92,330 159 101,577
Balances at beginning of period (in shares) at Jun. 30, 2025   2,516      
Balances at beginning of period at Jun. 30, 2025 195,070 $ 0 88,496 229 106,345
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income 2,709       2,709
Other comprehensive income (loss) (70)     (70)  
Issuance of common stock (in shares)   16      
Issuance of common stock 450   450    
Shares withheld related to net share settlement (in shares)   (7)      
Shares withheld related to net share settlement (5,135)   (2,166)   (2,969)
Share-based compensation 5,555   5,555    
Share repurchases (in shares)   (4)      
Share repurchases (3,160)       (3,160)
Dividends and dividend equivalents declared [1] (1,361)       (1,361)
Other 8   (5)   13
Balances at end of period (in shares) at Sep. 30, 2025   2,521      
Balances at end of period at Sep. 30, 2025 $ 194,066 $ 0 $ 92,330 $ 159 $ 101,577
[1] Dividend per share was $0.525 and $0.50 for the three months ended September 30, 2025 and 2024, respectively, and $1.575 and $1.50 for the nine months ended September 30, 2025 and 2024, respectively.
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Statement of Stockholders' Equity [Abstract]        
Dividends and dividend equivalents declared (in dollars per share) $ 0.525 $ 0.50 $ 1.575 $ 1.50
v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 37,690 $ 41,522
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,205 11,038
Share-based compensation 14,537 12,428
Deferred income taxes 17,704 (3,406)
Unrealized gain on marketable equity securities (548) 0
Other (453) 206
Changes in assets and liabilities:    
Accounts receivable 660 1,493
Prepaid expenses and other current assets (348) (168)
Other assets (209) (70)
Accounts payable (637) (195)
Accrued expenses and other current liabilities (2,883) (1,199)
Other liabilities 868 1,691
Net cash provided by operating activities 79,586 63,340
Cash flows from investing activities    
Purchases of property and equipment (48,308) (22,831)
Purchases of marketable securities (22,349) (14,644)
Sales and maturities of marketable securities 23,761 11,972
Purchases of non-marketable equity investments (18,260) (10)
Payments for held-for-sale assets (1,797) 0
Acquisitions of businesses and intangible assets (815) (261)
Other investing activities (48) 122
Net cash used in investing activities (67,816) (25,652)
Cash flows from financing activities    
Taxes paid related to net share settlement of equity awards (14,128) (9,913)
Repurchases of Class A common stock (26,248) (30,125)
Payments for dividends and dividend equivalents (3,986) (3,802)
Proceeds from issuance of long-term debt, net 0 10,432
Principal payments on finance leases (1,770) (1,558)
Other financing activities 613 (350)
Net cash used in financing activities (45,519) (35,316)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash equivalents 252 (72)
Net increase (decrease) in cash, cash equivalents, and restricted cash equivalents (33,497) 2,300
Cash, cash equivalents, and restricted cash equivalents at beginning of the period 45,438 42,827
Cash, cash equivalents, and restricted cash equivalents at end of the period 11,941 45,127
Reconciliation of cash, cash equivalents, and restricted cash equivalents to the condensed consolidated balance sheets    
Cash and cash equivalents 10,187 43,852
Restricted cash equivalents, included in prepaid expenses and other current assets 142 90
Restricted cash equivalents, included in other assets 1,612 1,185
Total cash, cash equivalents, and restricted cash equivalents 11,941 45,127
Supplemental cash flow data    
Cash paid for income taxes, net 6,293 8,326
Cash paid for interest, net of amounts capitalized 603 356
Non-cash investing and financing activities:    
Property and equipment in accounts payable and accrued expenses and other current liabilities 9,136 7,217
Acquisition of businesses and intangible assets in accounts payable, accrued expenses and other current liabilities, and other liabilities $ 1,931 $ 186
v3.25.3
Summary of Significant Accounting Policies
 9 Months Ended
Sep. 30, 2025
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, 2024.

The condensed consolidated balance sheet as of December 31, 2024 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 long-lived assets and their associated estimated useful lives, valuation of non-marketable equity investments, revenue recognition, valuation of goodwill, credit losses of available-for-sale debt securities and 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.

In January 2025, we completed an assessment of the useful lives of property and equipment, which resulted in an increase in the estimated useful lives of most servers and network assets to 5.5 years, effective January 1, 2025. Based on the servers and network assets placed in service as of December 31, 2024, the financial impact of this change in estimate included a reduction in depreciation expense of $2.29 billion and an increase in net income of $1.96 billion, or $0.76 per diluted share, for the nine months ended September 30, 2025.

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, 2024, except for an update to our income taxes accounting policies as described in Note 11 — Income Taxes.
v3.25.3
Revenue
 9 Months Ended
Sep. 30, 2025
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 September 30,Nine Months Ended September 30,
 2025202420252024
Advertising$50,082 $39,885 $138,037 $113,850 
Other revenue690 434 1,784 1,203 
Family of Apps50,772 40,319 139,821 115,053 
Reality Labs470 270 1,252 1,063 
Total revenue$51,242 $40,589 $141,073 $116,116 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
United States and Canada
$19,708 $15,619 $55,031 $43,906 
Europe (1)
11,566 9,205 32,315 26,762 
Asia-Pacific14,304 11,243 38,401 32,522 
Rest of World (1)
5,664 4,522 15,326 12,926 
Total revenue$51,242 $40,589 $141,073 $116,116 
____________________________________
(1)Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.

Total deferred revenue was $924 million and $772 million as of September 30, 2025 and December 31, 2024, respectively. As of September 30, 2025, we expect most of the deferred revenue to be realized in less than a year.
v3.25.3
Earnings per Share
 9 Months Ended
Sep. 30, 2025
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 nine months ended September 30, 2025, approximately 1 million shares of Class A common stock equivalent of restricted stock units (RSUs) were excluded from the diluted EPS calculation as including them would have an anti-dilutive effect. For the three and nine months ended September 30, 2024, RSUs with an anti-dilutive effect were not material.

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 September 30,Nine Months Ended September 30,
 2025202420252024
Basic EPS:
Numerator
Distributed earnings$1,330 $1,263 $3,986 $3,802 
Undistributed earnings1,379 14,425 33,704 37,720 
Net income$2,709 $15,688 $37,690 $41,522 
Denominator
Shares used in computation of basic EPS (1)
2,517 2,529 2,520 2,536 
Basic EPS$1.08 $6.20 $14.96 $16.37 
Diluted EPS:
Numerator
Net income for diluted EPS$2,709 $15,688 $37,690 $41,522 
Denominator
Shares used in computation of basic EPS (1)
2,517 2,529 2,520 2,536 
Effect of dilutive RSUs55 71 58 79 
Shares used in computation of diluted EPS2,572 2,600 2,578 2,615 
Diluted EPS$1.05 $6.03 $14.62 $15.88 
____________________________________
(1)Includes 2,174 million and 2,184 million shares of Class A common stock and 343 million and 345 million shares of Class B common stock, for the three months ended September 30, 2025 and 2024, respectively; and 2,177 million and 2,190 million shares of Class A common stock and 343 million and 346 million shares of Class B common stock, for the nine months ended September 30, 2025 and 2024, 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.
v3.25.3
Financial Instruments
 9 Months Ended
Sep. 30, 2025
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
DescriptionSeptember 30, 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$5,531 $5,531 $— $— 
U.S. government securities191 191 — — 
Time deposits301 — 301 — 
Total cash equivalents6,023 5,722 301 — 
Marketable securities:
U.S. government securities14,292 14,292 — — 
U.S. government agency securities827 827 — — 
Corporate debt securities13,014 — 13,014 — 
Marketable equity securities6,128 6,128 — — 
Total marketable securities34,261 21,247 13,014 — 
Restricted cash equivalents1,622 1,622 — — 
Other assets106 — — 106 
Total$42,012 $28,591 $13,315 $106 
  Fair Value Measurement at Reporting Date Using
DescriptionDecember 31, 2024Quoted 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$36,165 $36,165 $— $— 
U.S. government and agency securities23 23 — — 
Time deposits369 — 369 — 
Corporate debt securities114 — 114 — 
Total cash equivalents36,671 36,188 483 — 
Marketable securities:
U.S. government securities14,889 14,889 — — 
U.S. government agency securities3,053 3,053 — — 
Corporate debt securities14,758 — 14,758 — 
Marketable equity securities1,226 1,226 — — 
Total marketable securities33,926 19,168 14,758 — 
Restricted cash equivalents1,193 1,193 — — 
Other assets101 — — 101 
Total$71,891 $56,549 $15,241 $101 

Marketable Debt Securities

The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of September 30, 2025 and December 31, 2024, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
September 30, 2025
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$1,141 $(3)$2,209 $(36)$3,350 $(39)
U.S. government agency securities8 — 48 — 56 — 
Corporate debt securities465 (1)2,215 (38)2,680 (39)
Total$1,614 $(4)$4,472 $(74)$6,086 $(78)
December 31, 2024
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$6,860 $(71)$4,330 $(146)$11,190 $(217)
U.S. government agency securities435 (2)2,083 (44)2,518 (46)
Corporate debt securities2,989 (26)6,373 (192)9,362 (218)
Total$10,284 $(99)$12,786 $(382)$23,070 $(481)

As of September 30, 2025 and December 31, 2024, the gross unrealized gains on our marketable debt securities were $281 million and $27 million, respectively, and the allowance for credit losses were not material.
The following table classifies our marketable debt securities by contractual maturities (in millions):
September 30, 2025
Due within one year$2,700 
Due after one year to five years25,433 
Total$28,133 
Marketable Equity Securities

The unrealized gains on our marketable equity securities were $922 million and $548 million for the three and nine months ended September 30, 2025, respectively. These gains are recorded within interest and other income, net on our condensed consolidated statements of income.
v3.25.3
Non-Marketable Equity Investments
 9 Months Ended
Sep. 30, 2025
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):
September 30, 2025December 31, 2024
Non-marketable equity investments under measurement alternative:
Initial cost$20,261 $6,342 
Cumulative upward adjustments379 300 
Cumulative impairment/downward adjustments(623)(624)
Carrying value20,017 6,018 
Non-marketable equity investments under equity method5,057 52 
Total non-marketable equity investments$25,074 $6,070 
In June 2025, we completed an investment in Scale AI by acquiring a non-voting minority of its outstanding equity. Out of the total consideration, $13.79 billion was included in non-marketable equity investments accounted for under the measurement alternative method, as we do not have significant influence over Scale AI's operations.
Our non-marketable equity method investments include mostly unconsolidated variable interest entities (VIE) of which we are not the primary beneficiary as we do not direct the activities that would significantly affect their economic performance. As of September 30, 2025, our maximum exposure to loss in these VIEs was $5.01 billion, which represents the carrying value of our investments, including the tender offers executed during the three months ended September 30, 2025.
Investments held in our non-marketable equity investment portfolios are subject to equity price risk.
v3.25.3
Property and Equipment
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment, net consists of the following (in millions): 
September 30, 2025December 31, 2024
Land$2,809 $2,561 
Servers and network assets92,142 68,397 
Buildings50,753 47,076 
Leasehold improvements8,233 7,293 
Equipment and other8,710 7,150 
Finance lease right-of-use assets7,107 5,384 
Construction in progress44,015 26,802 
Property and equipment, gross213,769 164,663 
Less: Accumulated depreciation(53,499)(43,317)
Property and equipment, net$160,270 $121,346 

Construction in progress includes costs mostly related to construction of data centers, network infrastructure and servers. Depreciation expense on property and equipment was $4.76 billion and $3.96 billion for the three months ended September 30, 2025 and 2024, respectively, and $12.88 billion and $10.88 billion for the nine months ended September 30, 2025 and 2024, respectively. Within property and equipment, our servers and network assets depreciation expenses were $3.60 billion and $2.97 billion for the three months ended September 30, 2025 and 2024, respectively, and $9.34 billion and $7.96 billion for the nine months ended September 30, 2025 and 2024, respectively. We extended the estimated useful lives of most servers and network assets to 5.5 years, effective January 1, 2025. See Note 1 — Summary of Significant Accounting Policies - Use of Estimates.
Held-for-sale Assets

At the beginning of June 2025, we approved a plan to dispose of certain data center assets and reclassified $2.04 billion of these assets as held-for-sale. These assets mostly consisted of construction in progress and land, which are reported at the lower of their carrying amounts or fair values less costs to sell. No loss was recognized upon reclassification, as these assets are expected to be disposed of within the next twelve months through a contribution to a third party for the purpose of co-developing data centers. As of September 30, 2025, total held-for-sale assets were $4.66 billion, included within prepaid expenses and other current assets on our condensed consolidated balance sheets.
In October 2025, we contributed the held-for-sale assets to a newly formed joint venture. For information regarding the joint venture arrangement, see Note 13 — Subsequent Event.
v3.25.3
Acquisitions, Goodwill, and Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquisitions, Goodwill, and Intangible Assets Acquisitions, Goodwill, and Intangible Assets
During the three months ended September 30, 2025, we acquired software licenses of $2.29 billion and completed business acquisitions that were not material to our condensed consolidated financial statements, individually and in aggregate. Accordingly, pro forma historical results of operations related to these business acquisitions are not presented. The financial results of these business acquisitions were included in our condensed consolidated financial statements.
In connection with a certain business acquisition, we issued unregistered shares of our Class A common stock. See Part II, Item 2 — Unregistered Sales of Equity Securities and Use of Proceeds of this Quarterly Report on Form 10-Q.
Changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2025 are as follows (in millions):
Family of AppsReality LabsTotal
December 31, 2024$19,246 $1,408 $20,654 
Acquisitions505 — 505 
Adjustments— (1)(1)
September 30, 2025$19,751 $1,407 $21,158 

The following table sets forth the major categories of the intangible assets and their weighted-average remaining useful lives (in millions):
September 30, 2025December 31, 2024
Weighted-Average Remaining Useful Lives
(in years)		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Acquired technology3.6$566 $(197)$369 $442 $(247)$195 
Acquired patents6.4235 (146)89 252 (165)87 
Acquired software2.82,538 (251)2,287 250 (58)192 
Other1.423 (14)9 24 (8)16 
Total finite-lived assets3,362 (608)2,754 968 (478)490 
Total indefinite-lived assetsN/A425 — 425 425 — 425 
Total$3,787 $(608)$3,179 $1,393 $(478)$915 

Amortization expense of intangible assets was $207 million and $63 million for the three months ended September 30, 2025 and 2024, respectively, and $326 million and $158 million for the nine months ended September 30, 2025 and 2024, respectively.

As of September 30, 2025, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions):

The remainder of 2025$257 
2026965 
2027908 
2028535 
202931 
Thereafter58 
Total$2,754 
v3.25.3
Long-term Debt
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Long-term Debt Long-term Debt
The carrying amount of our long-term debt in the form of fixed-rate senior unsecured notes (the Notes) was $28.83 billion as of September 30, 2025 and December 31, 2024. The total estimated fair value of our outstanding Notes was $28.51 billion and $27.83 billion as of September 30, 2025 and December 31, 2024, respectively. The fair value was determined based on the quoted prices for the Notes as of each reporting date, and is categorized accordingly as Level 2 in the fair value hierarchy.
v3.25.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
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 September 30, 2025. These lease obligations were approximately $58.14 billion, mostly for data centers, colocations, and certain network infrastructure, which will commence between the remainder of 2025 and 2030.

We also have $81.19 billion of non-cancelable contractual commitments as of September 30, 2025. These commitments are mostly related to third-party cloud capacity arrangements and our continued investments in servers and network infrastructure, consumer hardware products in Reality Labs, and data centers, with $17.79 billion and $8.62 billion due in 2025 and 2026, respectively.

In October 2025, we entered into multi-year third-party cloud capacity arrangements for an aggregate amount of approximately $40 billion.

Additionally, as part of the normal course of business, we have entered into agreements ranging from three 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 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 September 9, 2019, the court granted, in part, and denied, in part, our motion to dismiss the consolidated putative consumer class action. On December 22, 2022, the parties entered into a settlement agreement to resolve the lawsuit, which provides for a payment of $725 million by us. The settlement was approved by the court on October 10, 2023, and the payment was made in November 2023. Two objectors appealed final approval (one of which was voluntarily dismissed as of June 24, 2024). The objection was overruled on February 13, 2025. The objectors' deadline to appeal lapsed on May 14, 2025, rendering the settlement agreement final. 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. The 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. On July 16, 2021, a stockholder derivative action was filed in Delaware Court of Chancery against certain of our directors and officers asserting breach of fiduciary duty and related claims relating to our historical platform and user data practices, as well as our settlement with the FTC. On July 20, 2021, other stockholders filed an amended derivative complaint in a related Delaware Chancery Court action, asserting breach of fiduciary duty and related claims against certain of our current and former directors and officers in connection with our historical platform and user data practices. On November 4, 2021, the lead plaintiffs filed a second amended and consolidated complaint in the stockholder derivative action. The pending consolidated matter is In re Facebook Inc. Derivative Litigation. On January 19, 2022, we filed a motion to dismiss, which was denied in part on May 10, 2023. The insider trading claim was dismissed as to all defendants except Mark Zuckerberg, and the motion was denied as to the breach of fiduciary duty claims. Trial began on July 16, 2025. On July 17, 2025, the parties agreed to a settlement in principle to resolve all claims in the action, which is subject to court approval.

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 August 1, 2025, the district court granted the parties' proposed order to stay the proceedings pending status updates from the parties.

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 10, 2025, we filed a motion to stay the constitutional proceeding for 90 days in light of the Court of Appeals' May 16, 2025 decision in the jurisdictional case. On June 29, 2025, the district court in the constitutional proceeding granted our motion to stay the matter, subject to any further order from that court. The court ordered the parties to file a joint status report in the constitutional proceeding on or before November 24, 2025.

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.

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 filed a notice of appeal of that decision. 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 approximately 1.6 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, 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. Post-trial briefing concluded on September 10, 2025 and the court is expected to issue a decision in the fourth quarter of 2025 or later. 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 January 14, 2022, the court granted, in part, and denied, in part, our motion to dismiss the consolidated actions. On March 1, 2022, a first amended consolidated complaint was filed in the putative class action brought on behalf of certain advertisers. On December 6, 2022, the court denied our motion to dismiss the first amended consolidated complaint filed in the putative class action brought on behalf of certain advertisers. On December 30, 2024, we filed our motion for summary judgment in the putative class action brought on behalf of certain advertisers. 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 April 28, 2025, we filed a motion for summary judgment in the user action, and on September 29, 2025, the court granted our motion, entering judgment in our favor.

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 September 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 fines or 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 as early as later in the fourth quarter of 2025.
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.

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 (Ohio Pub. Empl. Ret. Sys. v. Meta Platforms, Inc.). 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 March 8, 2022, a putative class action was 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 in connection with the disclosure of our earnings results for the fourth quarter of 2021 and seeking unspecified damages (Plumbers & Steamfitters Local 60 Pension Trust v. Meta Platforms, Inc.). On July 18, 2023, the court dismissed the claims against Meta and its officers with leave to amend. On September 18, 2023, the plaintiffs filed an amended complaint and on September 17, 2024, the court dismissed the claims with prejudice. On October 14, 2024, plaintiffs filed their notice of appeal. The appeal is fully briefed.
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, 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, Brazil, 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. These lawsuits seek damages 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. The first group of personal injury cases is currently set for trial beginning on January 27, 2026 in Judicial Council Coordination Proceeding No. 5255 pending in Los Angeles County California Superior Court. Trial in the first of the state attorneys general cases is currently scheduled to begin on February 2, 2026 in the First Judicial District Court of New Mexico, in a case brought by the New Mexico Attorney General. Trials in other state attorneys general cases are currently scheduled or expected to be scheduled in the second half of 2026 or in 2027. The first trial in the multidistrict litigation (In re Social Media Adolescent Addiction Product Liability Personal Injury Litigation) is anticipated to be scheduled beginning in summer 2026. Across the cases described above, the damages or penalties that plaintiffs have indicated they intend to seek range widely in amount, including in certain cases up to the high tens of billions of dollars. In addition, beginning in November 2024, counsel for tens of thousands of individual claimants began sending 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, and the alleged mental and physical health and safety impacts on users, particularly younger users. 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.

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. The trial date is currently vacated and could be rescheduled for as early as later in the fourth quarter of 2025.
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 books and materials to train our artificial intelligence models and seeking unspecified damages and injunctive relief. 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 claim of copyright infringement due to alleged distribution of books to third parties during the downloading process. The court is scheduled to hear summary judgment motions on April 2, 2026.

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 regulatory inquiries and litigation related to allegedly deceptive advertising, including but not limited to financial scams, in other parts of the world.

On September 18, 2024, staff of the Consumer Financial Protection Bureau (CFPB or Bureau) initiated a Notice and Opportunity to Respond and Advise (NORA) process related to its investigation of advertising for financial products and services on our platform, informing us that staff may recommend to the Director of the CFPB that the Bureau take legal action alleging violations of the Consumer Financial Protection Act, including based on our alleged receipt and use for advertising of financial information from third parties through certain advertising tools as well as our related user disclosures and controls, and provided us with an opportunity to respond. On September 25, 2025, the CFPB informed us that the investigation is closed.

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.
v3.25.3
Stockholders' Equity
 9 Months Ended
Sep. 30, 2025
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. As of December 31, 2024, $51.28 billion remained available and authorized for repurchases under this program. During the nine months ended September 30, 2025, we repurchased and subsequently retired 40 million shares of our Class A common stock for an aggregate amount of $26.32 billion, including excise taxes. As of September 30, 2025, $25.03 billion remained available and authorized for repurchases.

Dividend

The following table summarizes our dividends activities for the periods presented (in millions, except per share amounts):
Record DatePayment DateDividend Per ShareClass AClass BTotal
2025
March 14, 2025March 26, 2025$0.525 $1,145 $180 $1,325 
June 16, 2025June 26, 2025$0.525 $1,142 $180 $1,322 
September 22, 2025September 29, 2025$0.525 $1,143 $180 $1,323 
2024
February 22, 2024March 26, 2024$0.50 $1,099 $174 $1,273 
June 14, 2024June 26, 2024$0.50 $1,093 $173 $1,266 
September 16, 2024September 26, 2024$0.50 $1,090 $172 $1,262 
December 16, 2024December 27, 2024$0.50 $1,095 $172 $1,267 

Beginning in the first quarter of 2025, our board of directors increased the cash dividend by 5% to $0.525 per share of outstanding Class A and Class B common stock. During the three and nine months ended September 30, 2025 and 2024, dividend equivalent payments on eligible equity awards, which are not included above, were not material.

Share-based Compensation Plan

Our board of directors and stockholders approved our 2025 Equity Incentive Plan (2025 Plan), effective as of May 28, 2025, which serves as the successor to our 2012 Equity Incentive Plan (2012 Plan) and provides for the issuance of RSUs, incentive and nonqualified stock options, restricted stock awards, stock appreciation rights, performance shares, and stock bonuses to qualified employees, directors, and consultants. No new awards will be issued under the 2012 Plan as of the effective date of the 2025 Plan. Outstanding awards under the 2012 Plan continue to be subject to the terms and conditions of the 2012 Plan. Shares that are withheld in connection with the net settlement of RSUs granted under the 2012 Plan and 2025 Plan, as well as forfeited shares underlying RSUs that were granted under the 2012 Plan and 2025 Plan, are added to the reserves of the 2025 Plan. As of September 30, 2025, there were 453 million shares of our Class A common stock reserved for future issuance under our 2025 Plan.
The following table summarizes our share-based compensation expense, which consists of RSU expense, by line item in our condensed consolidated statements of income (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Cost of revenue$289 $266 $838 $775 
Research and development4,814 3,486 12,321 10,178 
Marketing and sales232 260 702 773 
General and administrative220 238 676 702 
Total$5,555 $4,250 $14,537 $12,428 

The following table summarizes the activities for our unvested RSUs for the nine months ended September 30, 2025:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2024122,632 $302.27 
Granted61,086 $661.03 
Vested(45,865)$302.18 
Forfeited(11,606)$348.26 
Unvested at September 30, 2025126,247 $471.66 

The fair value as of the respective vesting dates of RSUs that vested during the three months ended September 30, 2025 and 2024 was $11.99 billion and $8.53 billion, respectively, and $33.33 billion and $23.99 billion during the nine months ended September 30, 2025 and 2024, respectively. The income tax benefit recognized related to awards vested during the three months ended September 30, 2025 and 2024 was $2.41 billion and $1.81 billion, respectively, and $6.79 billion and $5.08 billion during the nine months ended September 30, 2025 and 2024, respectively.

As of September 30, 2025, there was $56.59 billion of unrecognized share-based compensation expense related to RSU awards. This unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately three years based on vesting under the award service conditions.
v3.25.3
Income Taxes
 9 Months Ended
Sep. 30, 2025
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 intangible income.

Our gross unrecognized tax benefits were $16.98 billion and $15.13 billion as of September 30, 2025 and December 31, 2024, respectively. These unrecognized tax benefits 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 September 30, 2025 were realized in a future period, this would result in a tax benefit of $10.98 billion within our provision for income taxes at such time. The amount of interest and penalties accrued was $2.82 billion and $2.21 billion as of September 30, 2025 and December 31, 2024, respectively. We expect to continue to accrue unrecognized tax benefits for certain recurring tax positions.

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted, introducing several significant U.S. income tax provisions that will reduce our U.S. federal cash tax payments for the remainder of 2025 and future years. The provisions include the immediate expensing of domestic research and development costs and certain capital expenditures beginning in 2025, as well as an enhanced deduction for foreign-derived intangible income effective in 2026. The benefits from these provisions are limited by the 15% Corporate Alternative Minimum Tax (CAMT). As a result, we recorded a $15.93 billion discrete charge related to the implementation as of the enactment date of OBBBA, including recognition of a valuation allowance against our U.S. federal deferred tax assets. In determining the valuation allowance, our accounting policy incorporates the expected impact of future years’ CAMT in assessing the realizability of our deferred tax assets.

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's 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 are evaluating our options to challenge the 2017-2019 Notice. As of September 30, 2025, we believe our accrual for unrecognized tax benefits is adequate.
v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
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, augmented, and mixed 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 September 30,Nine Months Ended September 30,
 2025202420252024
Family of Apps:
Revenue$50,772 $40,319 $139,821 $115,053 
Employee compensation (1)
(10,645)(8,089)(29,011)(23,280)
Other costs and expenses (2)
(15,160)(10,452)(39,108)(32,995)
Income from operations$24,967 $21,778 $71,702 $58,778 
Reality Labs:
Revenue$470 $270 $1,252 $1,063 
Employee compensation (1)
(2,594)(2,655)(7,895)(7,713)
Other costs and expenses (3)
(2,308)(2,043)(6,528)(6,112)
Loss from operations$(4,432)$(4,428)$(13,171)$(12,762)
Total:
Revenue$51,242 $40,589 $141,073 $116,116 
Employee compensation (1)
(13,239)(10,744)(36,906)(30,993)
Other costs and expenses(17,468)(12,495)(45,636)(39,107)
Income from operations$20,535 $17,350 $58,531 $46,016 
____________________________________
(1)Employee compensation includes employee payroll, share-based compensation, bonus, and employee benefits for medical care, retirement, insurances and other.
(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.
v3.25.3
Subsequent Event
 9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
In October 2025, we entered into a joint venture (the Venture) with an affiliate of funds managed by Blue Owl Capital, Inc. (the Investor) to co-develop a new data center campus in Richland Parish, Louisiana.

At closing, we contributed $4.3 billion which included held-for-sale assets, net of liabilities, consisting mostly of construction in progress and land, while the Investor contributed $7.0 billion in cash to the Venture. In connection with the transaction, we received a one-time distribution of $2.6 billion. Following the closing, we hold a 20% membership interest and the Investor holds an 80% membership interest in the Venture.

We provide construction management, administrative and property management services to the Venture. We also entered into multiple operating lease agreements with the Venture for the use of properties on the data center campus, which will commence in 2029. The initial lease commitment is approximately $12.3 billion for a four-year lease term, with options to renew for a total lease period of up to 20 years. In addition, we provided a residual value guarantee for the first 16 years of operations whereby we would make a capped cash payment to the Venture if certain conditions are met following a non-renewal or termination of a data center lease and the then-current value of the data center falls below an agreed-upon threshold, which effectively begins at $28 billion and decreases over time. Our cash payment would be the difference between the then-current value and the threshold.

Our interest in the Venture will be accounted for as a non-marketable equity investment under equity method. As we do not direct the activities that most significantly impact the Venture's economic performance, the Venture will be an unconsolidated variable interest entity.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Robert M. Kimmitt [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement On August 15, 2025, Robert M. Kimmitt, a member of our board of directors, entered into a trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The trading plan provides for the sale of an aggregate of 3,500 shares of our Class A common stock. The plan will terminate on April 15, 2026, subject to early termination for certain specified events set forth in the plan.
Name Robert M. Kimmitt
Title member of our board of directors
Rule 10b5-1 Arrangement Adopted true
Adoption Date August 15, 2025
Expiration Date April 15, 2026
Arrangement Duration 243 days
Aggregate Available 3,500
v3.25.3
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2025
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, 2024.

The condensed consolidated balance sheet as of December 31, 2024 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 long-lived assets and their associated estimated useful lives, valuation of non-marketable equity investments, revenue recognition, valuation of goodwill, credit losses of available-for-sale debt securities and 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, 2024, except for an update to our income taxes accounting policies as described in Note 11 — Income Taxes.
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, augmented, and mixed reality related consumer hardware, software, and content. Our operating segments are the same as our reportable segments.
v3.25.3
Revenue (Tables)
 9 Months Ended
Sep. 30, 2025
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 September 30,Nine Months Ended September 30,
 2025202420252024
Advertising$50,082 $39,885 $138,037 $113,850 
Other revenue690 434 1,784 1,203 
Family of Apps50,772 40,319 139,821 115,053 
Reality Labs470 270 1,252 1,063 
Total revenue$51,242 $40,589 $141,073 $116,116 

Revenue disaggregated by geography, based on the addresses of our customers, consists of the following (in millions):
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
United States and Canada
$19,708 $15,619 $55,031 $43,906 
Europe (1)
11,566 9,205 32,315 26,762 
Asia-Pacific14,304 11,243 38,401 32,522 
Rest of World (1)
5,664 4,522 15,326 12,926 
Total revenue$51,242 $40,589 $141,073 $116,116 
____________________________________
(1)Europe includes Russia and Turkey, and Rest of World includes Africa, Latin America, and the Middle East.
v3.25.3
Earnings per Share (Tables)
 9 Months Ended
Sep. 30, 2025
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 September 30,Nine Months Ended September 30,
 2025202420252024
Basic EPS:
Numerator
Distributed earnings$1,330 $1,263 $3,986 $3,802 
Undistributed earnings1,379 14,425 33,704 37,720 
Net income$2,709 $15,688 $37,690 $41,522 
Denominator
Shares used in computation of basic EPS (1)
2,517 2,529 2,520 2,536 
Basic EPS$1.08 $6.20 $14.96 $16.37 
Diluted EPS:
Numerator
Net income for diluted EPS$2,709 $15,688 $37,690 $41,522 
Denominator
Shares used in computation of basic EPS (1)
2,517 2,529 2,520 2,536 
Effect of dilutive RSUs55 71 58 79 
Shares used in computation of diluted EPS2,572 2,600 2,578 2,615 
Diluted EPS$1.05 $6.03 $14.62 $15.88 
____________________________________
(1)Includes 2,174 million and 2,184 million shares of Class A common stock and 343 million and 345 million shares of Class B common stock, for the three months ended September 30, 2025 and 2024, respectively; and 2,177 million and 2,190 million shares of Class A common stock and 343 million and 346 million shares of Class B common stock, for the nine months ended September 30, 2025 and 2024, respectively.
v3.25.3
Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
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
DescriptionSeptember 30, 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$5,531 $5,531 $— $— 
U.S. government securities191 191 — — 
Time deposits301 — 301 — 
Total cash equivalents6,023 5,722 301 — 
Marketable securities:
U.S. government securities14,292 14,292 — — 
U.S. government agency securities827 827 — — 
Corporate debt securities13,014 — 13,014 — 
Marketable equity securities6,128 6,128 — — 
Total marketable securities34,261 21,247 13,014 — 
Restricted cash equivalents1,622 1,622 — — 
Other assets106 — — 106 
Total$42,012 $28,591 $13,315 $106 
  Fair Value Measurement at Reporting Date Using
DescriptionDecember 31, 2024Quoted 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$36,165 $36,165 $— $— 
U.S. government and agency securities23 23 — — 
Time deposits369 — 369 — 
Corporate debt securities114 — 114 — 
Total cash equivalents36,671 36,188 483 — 
Marketable securities:
U.S. government securities14,889 14,889 — — 
U.S. government agency securities3,053 3,053 — — 
Corporate debt securities14,758 — 14,758 — 
Marketable equity securities1,226 1,226 — — 
Total marketable securities33,926 19,168 14,758 — 
Restricted cash equivalents1,193 1,193 — — 
Other assets101 — — 101 
Total$71,891 $56,549 $15,241 $101 
Available-for-sale Marketable Securities
The following tables summarize our available-for-sale marketable debt securities with unrealized losses as of September 30, 2025 and December 31, 2024, aggregated by major security type and the length of time that individual securities have been in a continuous loss position (in millions):
September 30, 2025
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$1,141 $(3)$2,209 $(36)$3,350 $(39)
U.S. government agency securities8 — 48 — 56 — 
Corporate debt securities465 (1)2,215 (38)2,680 (39)
Total$1,614 $(4)$4,472 $(74)$6,086 $(78)
December 31, 2024
Less than 12 months12 months or greaterTotal
Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. government securities$6,860 $(71)$4,330 $(146)$11,190 $(217)
U.S. government agency securities435 (2)2,083 (44)2,518 (46)
Corporate debt securities2,989 (26)6,373 (192)9,362 (218)
Total$10,284 $(99)$12,786 $(382)$23,070 $(481)
Marketable Securities by Contractual Maturities
The following table classifies our marketable debt securities by contractual maturities (in millions):
September 30, 2025
Due within one year$2,700 
Due after one year to five years25,433 
Total$28,133 
v3.25.3
Non-Marketable Equity Investments (Tables)
 9 Months Ended
Sep. 30, 2025
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):
September 30, 2025December 31, 2024
Non-marketable equity investments under measurement alternative:
Initial cost$20,261 $6,342 
Cumulative upward adjustments379 300 
Cumulative impairment/downward adjustments(623)(624)
Carrying value20,017 6,018 
Non-marketable equity investments under equity method5,057 52 
Total non-marketable equity investments$25,074 $6,070 
v3.25.3
Property and Equipment (Tables)
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and equipment, net consists of the following (in millions): 
September 30, 2025December 31, 2024
Land$2,809 $2,561 
Servers and network assets92,142 68,397 
Buildings50,753 47,076 
Leasehold improvements8,233 7,293 
Equipment and other8,710 7,150 
Finance lease right-of-use assets7,107 5,384 
Construction in progress44,015 26,802 
Property and equipment, gross213,769 164,663 
Less: Accumulated depreciation(53,499)(43,317)
Property and equipment, net$160,270 $121,346 
v3.25.3
Acquisitions, Goodwill, and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2025 are as follows (in millions):
Family of AppsReality LabsTotal
December 31, 2024$19,246 $1,408 $20,654 
Acquisitions505 — 505 
Adjustments— (1)(1)
September 30, 2025$19,751 $1,407 $21,158 
Schedule of Finite-lived and Indefinite Lived Intangible Assets
The following table sets forth the major categories of the intangible assets and their weighted-average remaining useful lives (in millions):
September 30, 2025December 31, 2024
Weighted-Average Remaining Useful Lives
(in years)		Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Acquired technology3.6$566 $(197)$369 $442 $(247)$195 
Acquired patents6.4235 (146)89 252 (165)87 
Acquired software2.82,538 (251)2,287 250 (58)192 
Other1.423 (14)9 24 (8)16 
Total finite-lived assets3,362 (608)2,754 968 (478)490 
Total indefinite-lived assetsN/A425 — 425 425 — 425 
Total$3,787 $(608)$3,179 $1,393 $(478)$915 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
As of September 30, 2025, expected amortization expense for the unamortized finite-lived intangible assets for the next five years and thereafter is as follows (in millions):

The remainder of 2025$257 
2026965 
2027908 
2028535 
202931 
Thereafter58 
Total$2,754 
v3.25.3
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Activities for Dividends
The following table summarizes our dividends activities for the periods presented (in millions, except per share amounts):
Record DatePayment DateDividend Per ShareClass AClass BTotal
2025
March 14, 2025March 26, 2025$0.525 $1,145 $180 $1,325 
June 16, 2025June 26, 2025$0.525 $1,142 $180 $1,322 
September 22, 2025September 29, 2025$0.525 $1,143 $180 $1,323 
2024
February 22, 2024March 26, 2024$0.50 $1,099 $174 $1,273 
June 14, 2024June 26, 2024$0.50 $1,093 $173 $1,266 
September 16, 2024September 26, 2024$0.50 $1,090 $172 $1,262 
December 16, 2024December 27, 2024$0.50 $1,095 $172 $1,267 
Share-Based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes our share-based compensation expense, which consists of RSU expense, by line item in our condensed consolidated statements of income (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Cost of revenue$289 $266 $838 $775 
Research and development4,814 3,486 12,321 10,178 
Marketing and sales232 260 702 773 
General and administrative220 238 676 702 
Total$5,555 $4,250 $14,537 $12,428 
Restricted Stock Units Award Activity
The following table summarizes the activities for our unvested RSUs for the nine months ended September 30, 2025:
Number of SharesWeighted-Average Grant Date Fair Value Per Share
(in thousands)
Unvested at December 31, 2024122,632 $302.27 
Granted61,086 $661.03 
Vested(45,865)$302.18 
Forfeited(11,606)$348.26 
Unvested at September 30, 2025126,247 $471.66 
v3.25.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table sets forth our segment information of revenue, expenses, and income (loss) from operations (in millions):
 Three Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Family of Apps:
Revenue$50,772 $40,319 $139,821 $115,053 
Employee compensation (1)
(10,645)(8,089)(29,011)(23,280)
Other costs and expenses (2)
(15,160)(10,452)(39,108)(32,995)
Income from operations$24,967 $21,778 $71,702 $58,778 
Reality Labs:
Revenue$470 $270 $1,252 $1,063 
Employee compensation (1)
(2,594)(2,655)(7,895)(7,713)
Other costs and expenses (3)
(2,308)(2,043)(6,528)(6,112)
Loss from operations$(4,432)$(4,428)$(13,171)$(12,762)
Total:
Revenue$51,242 $40,589 $141,073 $116,116 
Employee compensation (1)
(13,239)(10,744)(36,906)(30,993)
Other costs and expenses(17,468)(12,495)(45,636)(39,107)
Income from operations$20,535 $17,350 $58,531 $46,016 
____________________________________
(1)Employee compensation includes employee payroll, share-based compensation, bonus, and employee benefits for medical care, retirement, insurances and other.
(2)Includes costs and expenses in FoA segment for infrastructure, professional services, partner arrangements, marketing, facilities, legal-related costs, and other expenses.
(3)Includes costs and expenses in RL segment for inventory, professional services, marketing, infrastructure, facilities, and other expenses.
v3.25.3
Summary of Significant Accounting Policies (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Jan. 01, 2025
Property, Plant and Equipment          
Increase (decrease) in depreciation expense $ 4,760 $ 3,960 $ 12,880 $ 10,880  
Increase (decrease) in net income $ 2,709 $ 15,688 $ 37,690 $ 41,522  
Increase (decrease) in diluted EPS (in dollars per share) $ 1.05 $ 6.03 $ 14.62 $ 15.88  
Change in Service Life          
Property, Plant and Equipment          
Increase (decrease) in depreciation expense     $ (2,290)    
Increase (decrease) in net income     $ 1,960    
Increase (decrease) in diluted EPS (in dollars per share)     $ 0.76    
Servers and Network Assets Components Stored By Suppliers          
Property, Plant and Equipment          
Estimated useful lives         5 years 6 months
v3.25.3
Revenue - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Revenue $ 51,242 $ 40,589 $ 141,073 $ 116,116
United States and Canada        
Disaggregation of Revenue [Line Items]        
Revenue 19,708 15,619 55,031 43,906
Europe        
Disaggregation of Revenue [Line Items]        
Revenue 11,566 9,205 32,315 26,762
Asia-Pacific        
Disaggregation of Revenue [Line Items]        
Revenue 14,304 11,243 38,401 32,522
Rest Of World        
Disaggregation of Revenue [Line Items]        
Revenue 5,664 4,522 15,326 12,926
Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue 50,772 40,319 139,821 115,053
Reality Labs        
Disaggregation of Revenue [Line Items]        
Revenue 470 270 1,252 1,063
Advertising | Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue 50,082 39,885 138,037 113,850
Other revenue | Family of Apps        
Disaggregation of Revenue [Line Items]        
Revenue $ 690 $ 434 $ 1,784 $ 1,203
v3.25.3
Revenue - Narrative (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Total deferred revenue balance $ 924 $ 772
v3.25.3
Earnings per Share - Narrative (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2025
Class A | Restricted Stock Units (RSUs)    
Earnings Per Share, Basic, by Common Class, Including Two Class Method    
Shares excluded from EPS calc (in shares) 1 1
v3.25.3
Earnings per Share - Basic and Diluted EPS (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Numerator        
Distributed earnings $ 1,330 $ 1,263 $ 3,986 $ 3,802
Undistributed earnings 1,379 14,425 33,704 37,720
Net income $ 2,709 $ 15,688 $ 37,690 $ 41,522
Denominator        
Shares used in computation of basic EPS (in shares) 2,517 2,529 2,520 2,536
Basic EPS (in dollars per share) $ 1.08 $ 6.20 $ 14.96 $ 16.37
Numerator        
Net income for diluted EPS $ 2,709 $ 15,688 $ 37,690 $ 41,522
Denominator        
Shares used in computation of basic EPS (in shares) 2,517 2,529 2,520 2,536
Effect of dilutive RSUs (in shares) 55 71 58 79
Shares used in computation of diluted EPS (in shares) 2,572 2,600 2,578 2,615
Diluted EPS (in dollars per share) $ 1.05 $ 6.03 $ 14.62 $ 15.88
Class A        
Denominator        
Shares used in computation of basic EPS (in shares) 2,174 2,184 2,177 2,190
Denominator        
Shares used in computation of basic EPS (in shares) 2,174 2,184 2,177 2,190
Class B        
Denominator        
Shares used in computation of basic EPS (in shares) 343 345 343 346
Denominator        
Shares used in computation of basic EPS (in shares) 343 345 343 346
v3.25.3
Financial Instruments - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: $ 6,023 $ 36,671
Marketable securities: 28,133  
Marketable equity securities 6,128 1,226
Total marketable securities 34,261 33,926
Restricted cash equivalents 1,622 1,193
Other assets 106 101
Total 42,012 71,891
U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 14,292 14,889
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 827 3,053
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Marketable securities: 13,014 14,758
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 5,531 36,165
U.S. government securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 191 23
Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 301 369
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents:   114
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 5,722 36,188
Marketable equity securities 6,128 1,226
Total marketable securities 21,247 19,168
Restricted cash equivalents 1,622 1,193
Other assets 0 0
Total 28,591 56,549
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: 14,292 14,889
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: 827 3,053
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: 5,531 36,165
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: 191 23
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
Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents: 301 483
Marketable equity securities 0 0
Total marketable securities 13,014 14,758
Restricted cash equivalents 0 0
Other assets 0 0
Total 13,315 15,241
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: 13,014 14,758
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: 301 369
Significant Other Observable Inputs (Level 2) | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis    
Cash equivalents:   114
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 106 101
Total 106 101
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
v3.25.3
Financial Instruments - Available-for-sale Marketable Securities (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Marketable Securities [Line Items]    
Less than 12 months, fair value $ 1,614 $ 10,284
Less than 12 months, unrealized losses (4) (99)
12 months or greater, fair value 4,472 12,786
12 months or greater, unrealized losses (74) (382)
Fair value 6,086 23,070
Unrealized losses (78) (481)
U.S. government securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 1,141 6,860
Less than 12 months, unrealized losses (3) (71)
12 months or greater, fair value 2,209 4,330
12 months or greater, unrealized losses (36) (146)
Fair value 3,350 11,190
Unrealized losses (39) (217)
U.S. government agency securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 8 435
Less than 12 months, unrealized losses 0 (2)
12 months or greater, fair value 48 2,083
12 months or greater, unrealized losses 0 (44)
Fair value 56 2,518
Unrealized losses 0 (46)
Corporate debt securities    
Marketable Securities [Line Items]    
Less than 12 months, fair value 465 2,989
Less than 12 months, unrealized losses (1) (26)
12 months or greater, fair value 2,215 6,373
12 months or greater, unrealized losses (38) (192)
Fair value 2,680 9,362
Unrealized losses $ (39) $ (218)
v3.25.3
Financial Instruments - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Financial Instruments [Abstract]        
Accumulated unrealized gain (loss) on marketable debt securities, before tax $ 281 $ 281   $ 27
Unrealized gain (loss) on marketable equity securities $ 922 $ 548 $ 0  
v3.25.3
Financial Instruments - Contractual Maturities of Marketable Debt Securities (Details)
$ in Millions
Sep. 30, 2025
USD ($)
Contractual Maturities of Marketable Securities  
Due within one year $ 2,700
Due after one year to five years 25,433
Total $ 28,133
v3.25.3
Non-Marketable Equity Investments - Summary of Non-Marketable Equity Securities Measured Using Measurement Alternative (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]    
Initial cost $ 20,261 $ 6,342
Cumulative upward adjustments 379 300
Cumulative impairment/downward adjustments (623) (624)
Carrying value 20,017 6,018
Non-marketable equity investments under equity method 5,057 52
Total non-marketable equity investments $ 25,074 $ 6,070
v3.25.3
Non-Marketable Equity Investments - Narrative (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Equity Securities without Readily Determinable Fair Value [Line Items]      
Initial cost $ 20,261   $ 6,342
Variable interest entity, maximum exposure to loss $ 5,010    
Scale AI      
Equity Securities without Readily Determinable Fair Value [Line Items]      
Initial cost   $ 13,790  
v3.25.3
Property and Equipment - Summary (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Property, Plant and Equipment    
Finance lease right-of-use assets $ 7,107 $ 5,384
Property and equipment, gross 213,769 164,663
Less: Accumulated depreciation (53,499) (43,317)
Property and equipment, net 160,270 121,346
Land    
Property, Plant and Equipment    
Property and equipment, gross 2,809 2,561
Servers and network assets    
Property, Plant and Equipment    
Property and equipment, gross 92,142 68,397
Buildings    
Property, Plant and Equipment    
Property and equipment, gross 50,753 47,076
Leasehold improvements    
Property, Plant and Equipment    
Property and equipment, gross 8,233 7,293
Equipment and other    
Property, Plant and Equipment    
Property and equipment, gross 8,710 7,150
Construction in progress    
Property, Plant and Equipment    
Property and equipment, gross $ 44,015 $ 26,802
v3.25.3
Property and Equipment - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Jun. 01, 2025
Jan. 01, 2025
Property, Plant and Equipment            
Depreciation $ 4,760 $ 3,960 $ 12,880 $ 10,880    
Disposal Group, Held-for-Sale, Not Discontinued Operations | Construction in Progress and Land Held-for-Sale            
Property, Plant and Equipment            
Assets held-for-sale 4,660   4,660   $ 2,040  
Servers and network assets            
Property, Plant and Equipment            
Depreciation $ 3,600 $ 2,970 $ 9,340 $ 7,960    
Servers and Network Assets Components Stored By Suppliers            
Property, Plant and Equipment            
Estimated useful lives           5 years 6 months
v3.25.3
Acquisitions, Goodwill, and Intangible Assets - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Business Combination [Line Items]        
Amortization expense $ 207 $ 63 $ 326 $ 158
Software Licenses        
Business Combination [Line Items]        
Finite-lived intangible assets acquired $ 2,290      
v3.25.3
Acquisitions, Goodwill, and Intangible Assets - Change in Carrying Amount of Goodwill (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2025
USD ($)
Goodwill  
Goodwill, beginning balance $ 20,654
Acquisitions 505
Adjustments (1)
Goodwill, ending balance 21,158
Family of Apps  
Goodwill  
Goodwill, beginning balance 19,246
Acquisitions 505
Adjustments 0
Goodwill, ending balance 19,751
Reality Labs  
Goodwill  
Goodwill, beginning balance 1,408
Acquisitions 0
Adjustments (1)
Goodwill, ending balance $ 1,407
v3.25.3
Acquisitions, Goodwill, and Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 3,362 $ 968
Accumulated Amortization (608) (478)
Net Carrying Amount 2,754 490
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]    
Total indefinite-lived assets 425 425
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Gross Carrying Amount 3,787 1,393
Accumulated Amortization (608) (478)
Net Carrying Amount $ 3,179 915
Acquired technology    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 3 years 7 months 6 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 566 442
Accumulated Amortization (197) (247)
Net Carrying Amount 369 195
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (197) (247)
Acquired patents    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 6 years 4 months 24 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 235 252
Accumulated Amortization (146) (165)
Net Carrying Amount 89 87
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (146) (165)
Acquired software    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 2 years 9 months 18 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 2,538 250
Accumulated Amortization (251) (58)
Net Carrying Amount 2,287 192
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (251) (58)
Other    
Finite-Lived Intangible Assets [Line Items]    
Weighted-Average Remaining Useful Lives (in years) 1 year 4 months 24 days  
Finite-Lived Intangible Assets, Net [Abstract]    
Gross Carrying Amount $ 23 24
Accumulated Amortization (14) (8)
Net Carrying Amount 9 16
Intangible Assets, Net (Excluding Goodwill) [Abstract]    
Accumulated Amortization $ (14) $ (8)
v3.25.3
Acquisitions, Goodwill, and Intangible Assets - Estimated Amortization Expense (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]    
The remainder of 2025 $ 257  
2026 965  
2027 908  
2028 535  
2029 31  
Thereafter 58  
Net Carrying Amount $ 2,754 $ 490
v3.25.3
Long-term Debt (Details) - Senior Notes - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument    
Debt instrument, face amount $ 28,830 $ 28,830
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2)    
Debt Instrument    
Long-term debt, fair value $ 28,510 $ 27,830
v3.25.3
Commitments and Contingencies (Details)
€ in Millions, member in Millions
 1 Months Ended 9 Months Ended
Aug. 01, 2025
USD ($)
member
Nov. 18, 2024
EUR (€)
Jun. 24, 2024
appeal
Dec. 22, 2022
USD ($)
Jul. 27, 2018
classAction
Apr. 30, 2025
EUR (€)
Apr. 30, 2020
USD ($)
Sep. 30, 2025
USD ($)
objector
Oct. 29, 2025
USD ($)
May 12, 2023
EUR (€)
Loss Contingencies [Line Items]                    
Operating and finance leases not yet commenced               $ 58,140,000,000    
Non-cancelable contractual obligations               81,190,000,000    
Contractual obligations due in 2025               17,790,000,000    
Contractual obligations due in 2026               $ 8,620,000,000    
Amount awarded to other party       $ 725,000,000            
Number of objectors that appealed final approval | objector               2    
Number of appeals voluntarily dismissed | appeal     1              
Number of class actions filed | classAction         2          
Subsequent Event                    
Loss Contingencies [Line Items]                    
Operating and finance leases not yet commenced                 $ 12,300,000,000  
Non-cancelable contractual obligations                 $ 40,000,000,000  
Minimum                    
Loss Contingencies [Line Items]                    
Other commitments, period               3 years    
Maximum                    
Loss Contingencies [Line Items]                    
Other commitments, period               25 years    
FTC Inquiry                    
Loss Contingencies [Line Items]                    
Payment of penalty for settlement             $ 5,000,000,000.0      
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 1.6                  
v3.25.3
Stockholders' Equity - Capital Return Program (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award          
Remaining authorized repurchase amount $ 25,030   $ 25,030    
Shares repurchased and retired $ 3,160 $ 8,856 $ 26,319 $ 29,807  
Percent increase in cash dividends 5.00%        
January 2017 Share Repurchase Program          
Share-based Compensation Arrangement by Share-based Payment Award          
Remaining authorized repurchase amount         $ 51,280
Class A          
Share-based Compensation Arrangement by Share-based Payment Award          
Shares repurchased and retired (in shares)     40    
Shares repurchased and retired     $ 26,320    
v3.25.3
Stockholders' Equity - Schedule of Dividend & dividend Equivalent Activity (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dividends Payable [Line Items]                  
Dividends per share (in dollars per share) $ 0.525       $ 0.50     $ 1.575 $ 1.50
Payment of dividends $ 1,323 $ 1,322 $ 1,325 $ 1,267 $ 1,262 $ 1,266 $ 1,273    
Class A                  
Dividends Payable [Line Items]                  
Dividends per share (in dollars per share) $ 0.525 $ 0.525 $ 0.525 $ 0.50 $ 0.50 $ 0.50 $ 0.50    
Payment of dividends $ 1,143 $ 1,142 $ 1,145 $ 1,095 $ 1,090 $ 1,093 $ 1,099    
Class B                  
Dividends Payable [Line Items]                  
Dividends per share (in dollars per share) $ 0.525 $ 0.525 $ 0.525 $ 0.50 $ 0.50 $ 0.50 $ 0.50    
Payment of dividends $ 180 $ 180 $ 180 $ 172 $ 172 $ 173 $ 174    
v3.25.3
Stockholders' Equity - Share-based Compensation Plans (Details)
shares in Millions
Sep. 30, 2025
shares
Equity Incentive Plan 2012  
Share-based Compensation Arrangement by Share-based Payment Award  
Equity incentive plan shares authorized (in shares) 453
v3.25.3
Stockholders' Equity - Summary of Share-Based Compensation Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award        
Total $ 5,555 $ 4,250 $ 14,537 $ 12,428
Cost of revenue        
Share-based Compensation Arrangement by Share-based Payment Award        
Total 289 266 838 775
Research and development        
Share-based Compensation Arrangement by Share-based Payment Award        
Total 4,814 3,486 12,321 10,178
Marketing and sales        
Share-based Compensation Arrangement by Share-based Payment Award        
Total 232 260 702 773
General and administrative        
Share-based Compensation Arrangement by Share-based Payment Award        
Total $ 220 $ 238 $ 676 $ 702
v3.25.3
Stockholders' Equity - Restricted Stock Units (Details) - Restricted Stock Units (RSUs)
shares in Thousands
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Number of Shares  
Unvested at beginning of period (in shares) | shares 122,632
Granted (in shares) | shares 61,086
Vested (in shares) | shares (45,865)
Forfeited (in shares) | shares (11,606)
Unvested at end of period (in shares) | shares 126,247
Weighted-Average Grant Date Fair Value Per Share  
Unvested at beginning of period (in dollars per share) | $ / shares $ 302.27
Granted (in dollars per share) | $ / shares 661.03
Vested (in dollars per share) | $ / shares 302.18
Forfeited (in dollars per share) | $ / shares 348.26
Unvested at end of period (in dollars per share) | $ / shares $ 471.66
v3.25.3
Stockholders' Equity - Additional Award Disclosures (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award        
Unrecognized share-based compensation expense $ 56,590   $ 56,590  
Unrecognized share-based compensation expense recognition period (in years)     3 years  
Restricted Stock Units (RSUs)        
Share-based Compensation Arrangement by Share-based Payment Award        
Fair value of vested RSUs 11,990 $ 8,530 $ 33,330 $ 23,990
Tax benefit $ 2,410 $ 1,810 $ 6,790 $ 5,080
v3.25.3
Income Taxes (Details) - USD ($)
$ in Millions
 1 Months Ended
Jul. 04, 2025
Sep. 30, 2025
May 22, 2025
Dec. 31, 2024
Income Tax Contingency [Line Items]        
Unrecognized tax benefits   $ 16,980   $ 15,130
Unrecognized tax benefits that would result in tax benefit if realized   10,980    
Accrued interest and penalties   2,820   $ 2,210
Discrete charge related to new legislation $ 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    
v3.25.3
Segment Information - Narrative (Details)
 9 Months Ended
Sep. 30, 2025
reportable_segment
Segment Reporting [Abstract]  
Number of reportable segments (in segments) 2
v3.25.3
Segment Information - Segment Information of Revenue and Income (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Revenue $ 51,242 $ 40,589 $ 141,073 $ 116,116
Employee compensation (13,239) (10,744) (36,906) (30,993)
Other costs and expenses (17,468) (12,495) (45,636) (39,107)
Income (loss) from operations 20,535 17,350 58,531 46,016
Family of Apps        
Segment Reporting Information [Line Items]        
Revenue 50,772 40,319 139,821 115,053
Employee compensation (10,645) (8,089) (29,011) (23,280)
Other costs and expenses (15,160) (10,452) (39,108) (32,995)
Income (loss) from operations 24,967 21,778 71,702 58,778
Reality Labs        
Segment Reporting Information [Line Items]        
Revenue 470 270 1,252 1,063
Employee compensation (2,594) (2,655) (7,895) (7,713)
Other costs and expenses (2,308) (2,043) (6,528) (6,112)
Income (loss) from operations $ (4,432) $ (4,428) $ (13,171) $ (12,762)
v3.25.3
Subsequent Event (Details) - USD ($)
$ in Millions
 1 Months Ended
Oct. 29, 2025
Sep. 30, 2025
Subsequent Event [Line Items]    
Leases not yet commenced   $ 58,140
Subsequent Event    
Subsequent Event [Line Items]    
Leases not yet commenced $ 12,300  
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, period (in years) 16 years  
Lease not yet commenced, residual value guarantee, maximum $ 28,000  
Subsequent Event | Data Center Campus in Louisiana    
Subsequent Event [Line Items]    
Assets and liabilities held-for-sale, net, contributed to joint venture 4,300  
Joint venture, one-time distribution $ 2,600  
Equity method investment, ownership percentage 20.00%  
Subsequent Event | Data Center Campus in Louisiana | The Investor    
Subsequent Event [Line Items]    
Third-party payments to acquire interest in joint venture $ 7,000  
Joint venture, counterparty's interest, percentage 80.00%