Meta Q2 2026: revenue up 28% to $60.8B, but EPS fell 13% and Q3 guidance is $61-64B

Meta META Family of Apps Susan Li AI infrastructure and data centers Reality Labs

Revenue grew 28% to $60.80 billion, while GAAP diluted EPS fell 13% to $6.18 after legal and severance charges and higher spending. Free cash flow dropped to $784 million from $8.55 billion a year earlier as capital expenditures reached $31.08 billion. Management kept 2026 capex at $130-145 billion and set third-quarter revenue guidance of $61-64 billion, which the market read as too weak for the spending.

Revenue $60,801M, up 28% (27% excluding FX); operating margin 31% vs 43% a year earlier
Diluted EPS $6.18, down 13%; net income $15.85B, down 14%
Family of Apps revenue $60.37B; Reality Labs revenue $431M with a $4.62B operating loss
Q3 2026 revenue guided to $61-64B; 2026 capex $130-145B (narrowed from $125-145B); 2026 expenses $165-169B
Includes $2.40B legal charges and $1.18B severance from the May 2026 headcount cut

META around the story · hourly24 h reaction ▼ 10.42%

Moves this explains

META−9.18%Jul 28 · Meta fell 9.18% after reporting Q2 2026 results: revenue rose 28% to $60.8B, but EPS fell 13% and Q3 revenue guidance of $61-64B did not offset concern about spending. Micron (-11.69%) and AMD (-7.16%) also fell sharply, but Microsoft rose 7.34% that day, so Meta's drop was largely company-specific.QQQ−2.04%Jul 28 · QQQ fell 2.04% and the S&P 500 fell 1.49% as earnings split the megacaps: META -9.18% after revenue rose 28% to $60.8B but EPS fell 13% and Q3 guidance came in at $61-64B, while MSFT rose 7.34% on Azure growth of 43%. Chips were also weak (MU -11.69%, AMD -7.16%, INTC -7.26%), and the Fed held rates with three dissents the same day.

Source

Meta Investor Relations

Jul 29, 2026

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SEC filing 8-K · accession 0001628280-26-050596 · sec.gov ↗