Meta Platforms Inc (NASDAQ:META) reported financial results for the third quarter after the closing bell on Wednesday. Here’s a rundown of the report.

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Meta Q3 Earnings Highlights

Meta posted revenue of $64.6 billion for the quarter, beating analyst estimates of $63.37 billion. The tech giant reported third-quarter adjusted earnings of $7.40 per share, beating estimates of $5.74 per share, according to Benzinga Pro.

Total revenue was up 26% on a year-over-year basis. Family daily active people increased 3% year-over-year. 

Ad impressions jumped 10% year-over-year and average price per ad increased by 14% year-over-year. Meta noted its headcount was down 15% year-over-year to 66,775 as of June 30.

Meta generated $32.79 billion in cash flow from operations and free cash flow was negative $2.12 billion during the quarter. The company ended the period with $82.45 billion in cash, cash equivalents and marketable securities.

“We hit major milestones this quarter toward delivering personal superintelligence for everyone — including launching Muse and Muse Wonder, our first frontier model,” said Mark Zuckerberg, founder and CEO of Meta Platforms. “Our investments are paying off, the core business is strong, and we’re seeing velocity across the board.”

Meta expects fourth-quarter revenue to be in the range of $73 billion to $76 billion versus estimates of $73.74 billion.

Meta expects full-year 2026 expenses to be in the range of $175 billion to $179 billion, up from prior guidance of $165 billion to $169 billion. The increased guidance is due to a $9.9 billion charge related to legal proceedings recognized in the third quarter. The company anticipates full-year capital expenditures of $135 billion to $145 billion versus prior guidance of $130 billion to $145 billion.

Meta also announced plans to establish a new class of common stock (Class C), effective January 2027. The company’s board declared a one-time stock dividend of one share of Class C common stock for each outstanding share held to be paid after the new class of common stock becomes effective, essentially acting as a two-for-one stock split.

Meta management will further discuss the quarter on an earnings call at 4:30 p.m. ET. A link to the call has been provided below.

META Shares Rise After Earnings

META Price Action: Meta Platforms shares were up 3.12% in after-hours, trading at $719.30 at the time of publication on Wednesday, according to Benzinga Pro.

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