Meta's first quarter 2026 revenue surged 33% to $56.3B, but higher capital expenditure guidance weighs on outlook.

Meta reported first quarter 2026 results that beat analyst expectations on both revenue and adjusted earnings per share, driven by strong advertising growth. However, the company raised its full-year capital expenditure forecast, a key area of investor focus.

Key Highlights

• Revenue grew 33% year-over-year to $56.31 billion, a result of both a 19% increase in ad impressions and a 12% increase in average price per ad.
• Adjusted diluted EPS was $7.31, which excludes a one-time tax benefit of $8.03 billion or $3.13 per share. GAAP EPS was reported at $10.44.
• Full-year 2026 capital expenditure guidance was raised to a range of $125 billion to $145 billion, up from the prior range of $115 billion to $135 billion.
• Family daily active people (DAP) reached 3.56 billion, an increase of 4% year-over-year, but slightly missed analyst expectations of 3.59 billion.