Meta Platforms, Inc.

Company facts

Industry

Services-Computer Programming, Data Processing, Etc.

Headquarters

Menlo Park, California

Most recent report

8-K, filed Nov 5, 2026

Incorporated

Delaware

Filings on record

1,001+ filings

On EDGAR

CIK 1326801

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 4 of 11 sections worth reading, with 4 positive, 13 notable, and 11 negative flags.

• Financial Statements (Item 1)

  Huge legal accruals, $25B penalty, $18.6B settlement, $84B debt, $454B commitments, no buybacks.
  Notable

  • Issued $25B of new senior notes in May 2026; total debt face value rose to $84B.
  • No share repurchases in 9 months 2026 vs $26.2B in prior year; $25B still authorized.
  Negative

  • Non-cancelable contractual commitments total $454.52B; leases not yet commenced $355.73B.
  • NM court imposed $25B civil penalty for privacy violations; Meta has accrued and will appeal.
  • Multistate teen mental health settlement: payments up to $18.59B, with $12.7B over 10 years, $5.3B contingent.
  • Gross unrecognized tax benefits grew to $20.82B from $16.45B.
  • IRS seeks $15.89B additional tax for 2017-2019 plus interest and penalties; Meta disputes.

• Management's Discussion (Item 2)

  Dense with financial results, legal charge, massive capex and commitments.
  Positive

  • Revenue $64.60B, up 26% year-over-year in Q3 2026, driven by ad revenue growth.
  • Ad impressions up 10% and average price per ad up 14% year-over-year in Q3 2026.
  • Net income $9.86B, up from $2.71B in Q3 2025, helped by lower tax provision after OBBBA.
  • Family daily active people 3.64B, up 3% year-over-year in September 2026.
  Notable

  • Capital expenditures $34.91B in Q3 2026; full-year guidance $135-145B for AI and core business.
  • Headcount 66,775, down 15% year-over-year, as Meta continues to trim workforce.
  • Reality Labs operating loss $4.13B in Q3 2026; full-year 2026 losses expected $18-19B.
  • General & administrative costs surged 323% to $14.86B in Q3 2026, mostly from $9.89B legal charge.
  • Issued $24.91B net proceeds from senior notes in May 2026; long-term debt now $84.00B.
  • No share repurchases in nine months ended September 2026; $25.03B still authorized.
  Negative

  • Operating income $12.99B, down 37% from $20.54B in Q3 2025, due to $9.89B legal charge.
  • $10.80B in cash reclassified as restricted for infrastructure escrow, locked until 2028-2030.
  • Another $5.3 billion contingent from the multistate agreement not yet accrued; may add future expense.

• Legal Proceedings (Item 1)

  Multiple huge new liabilities and penalties disclosed; readers must know the $25B, $18.6B, and $1.7B exposures.
  Notable

  • FTC proceeding seeks to modify consent order, including banning use of minors' data for commerce, board changes, and product launch limits.
  • Irish regulator fined €1.2 billion for GDPR violations regarding data transfers; Meta is appealing and implementing corrective steps.
  • European Commission fined €798 million for Facebook Marketplace antitrust violations; Meta appealed.
  • In AI copyright litigation, court granted Meta's summary judgment on fair use for named plaintiffs, but other claims remain and additional cases filed.
  Negative

  • New Mexico court imposed $25 billion civil penalty for 43 million violations; Meta accrued a loss and plans to appeal.
  • District of Columbia is seeking up to $1.7 billion in civil penalties, restitution, and injunctive relief.

• Risk Factors (Item 1A)

  Quantified Reality Labs losses, $18.6B teen settlement, $454B infrastructure commitments, capital structure change.
  Notable

  • $454.52B in non-cancelable commitments as of Sep 30, 2026, mostly for cloud and technical infrastructure.
  Negative

  • Reality Labs operating losses: $19.19B in 2025, expected $18B-$19B in 2026, a huge drag on profitability.

What changed: Sep 2026 vs. Jun 2026

About 5% of META's Sep 2026 10-Q is new information. 38 paragraphs were added, 205 changed, and 46 removed. Below are the most important lines SECSift identified.

• Item 1 76
• Item 2 68
• Item 1A 59
• Item 6 3
• Item 5 1
• Item 3 1
• Item 4 1