META Q3 2022

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2022

Earnings

Meta Platforms delivered a mixed but largely disappointing third quarter, with earnings per share of $1.64 falling well short of the $1.89 consensus estimate, a miss of 13.23%, even as revenue of $27.71 billion edged just above the $27.41 billion for… Read more Meta Platforms delivered a mixed but largely disappointing third quarter, with earnings per share of $1.64 falling well short of the $1.89 consensus estimate, a miss of 13.23%, even as revenue of $27.71 billion edged just above the $27.41 billion forecast. The top line, however, told its own grim story: revenue fell 4.5% year-over-year, weighed down by an 18% drop in average ad prices as macro demand weakness swept through the digital advertising market. Operating margin collapsed from 36% to 20%, as costs surged 19% to $22.05 billion, while Reality Labs deepened its drag with an operating loss of $3.67 billion on just $285 million in revenue. Free cash flow cratered to $173 million from $9.55 billion a year earlier, reflecting a massive capital expenditure ramp that the company guided to $34-39 billion in 2023. In a sweeping efficiency pivot, Meta subsequently announced layoffs of more than 11,000 employees, signaling that the era of unchecked headcount growth is over.