Signed in · PRO

Guidance history, every release

Meta Platforms (META) · 8 releases, Oct 30, 2024 to Jul 29, 2026 · rows are metrics, columns are releases

Raised · a change from the previous releaseSame · restated unchanged— · not stated in that releaseEvery value links to its sentence in the filing

Metric	Oct 30, 2024 FY24 Q3	Jan 29, 2025 FY24 Q4	Apr 30, 2025 FY25 Q1	Jul 30, 2025 FY25 Q2	Oct 29, 2025 FY25 Q3	Jan 28, 2026 FY25 Q4	Apr 29, 2026 FY26 Q1	Jul 29, 2026 FY26 Q2
For FY2026
Foreign currency headwind to year-over-year total revenue growth	—	—	—	—	—	—	—	New“approximately 1%”
Foreign currency impact on revenue growth	—	—	—	—	—	New“approximately 4% tailwind to year-over-year total revenue growth”	—	—
Foreign currency impact on total revenue growth	—	—	—	—	—	—	New“approximately 2% tailwind to year-over-year total revenue growth”	—
Revenue growth	—	—	—	—	New“continue to deliver strong revenue growth”	—	—	—
Total revenue	—	—	—	—	—	—	—	New“$61-64 billion”
Total revenue	—	—	—	—	—	—	New“$58-61 billion”	—
Total revenue	—	—	—	—	—	New“$53.5-56.5 billion”	—	—
Operating income	—	—	—	—	—	New“above 2025 operating income”	Reiterated“above 2025 operating income”	Reiterated“above 2025 operating income”
Capital expenditures	—	—	—	—	—	New“$115-135 billion”	Raised“$125-145 billion”	Narrowed“$130-145 billion”
Capital expenditures dollar growth	—	—	—	—	New“notably larger in 2026 than 2025”	—	—	—
Capital expenditures, including principal payments on finance leases	—	—	—	—	—	New“$115-135 billion”	Raised“$125-145 billion”	Narrowed“$130-145 billion”
Reality Labs operating losses	—	—	—	—	—	New“remaining similar to 2025 levels”	—	—
Tax rate	—	—	—	—	—	New“13-16%”	Reiterated“13-16%”	Raised“between 15-17%”
Tax rate for the remaining quarters of 2026	—	—	—	—	—	—	New“between 13-16%”	Raised“between 15-17%”
Total expense growth rate	—	—	—	New“above the 2025 expense growth rate”	—	—	—	—
Total expenses	—	—	—	—	—	New“$162-169 billion”	Reiterated“$162-169 billion”	Narrowed“$165-169 billion”
Total expenses growth rate	—	—	—	—	New“significantly faster percentage rate in 2026 than 2025”	—	—	—
For FY2025
Foreign currency impact on revenue growth	—	—	New“approximately 1% tailwind”	—	—	—	—	—
Foreign currency impact on total revenue growth	—	—	—	—	New“approximately 1% tailwind”	—	—	—
Foreign currency impact on total revenue growth	—	—	—	New“approximately 1% tailwind to year-over-year total revenue growth”	—	—	—	—
Total revenue	—	—	—	—	New“$56-59 billion”	—	—	—
Total revenue	—	—	—	New“$47.5-50.5 billion”	—	—	—	—
Total revenue	—	—	New“$42.5-45.5 billion”	—	—	—	—	—
Total revenue	—	New“$39.5-41.8 billion”	—	—	—	—	—	—
Total revenue growth on a constant currency basis	—	New“11-18%”	—	—	—	—	—	—
Total revenue year-over-year growth	—	New“8-15%”	—	—	—	—	—	—
Capital expenditures	—	New“$60-65 billion”	Raised“$64-72 billion”	Narrowed“$66-72 billion”	Narrowed“$70-72 billion”	—	—	—
Capital expenditures, including principal payments on finance leases	—	—	New“$64-72 billion”	Narrowed“$66-72 billion”	Narrowed“$70-72 billion”	—	—	—
Depreciation expense reduction from change in accounting estimate	—	New“approximately $2.9 billion”	—	—	—	—	—	—
Depreciation expense reduction from change in useful life of servers and network assets	—	New“approximately $2.9 billion”	—	—	—	—	—	—
Infrastructure expense growth	New“a significant acceleration in infrastructure expense growth”	—	—	—	—	—	—	—
Tax rate	—	—	—	—	New“12-15%”	—	—	—
Tax rate	—	New“12-15%”	Reiterated“12-15%”	—	—	—	—	—
Total expenses	—	New“$114-119 billion”	Lowered“$113-118 billion”	Narrowed“$114-118 billion”	Narrowed“$116-118 billion”	—	—	—
Total expenses growth rate	—	—	—	New“20-24% year-over-year”	Narrowed“22-24% year-over-year”	—	—	—
For FY2024
Foreign currency impact on total revenue growth	New“approximately neutral to year-over-year total revenue growth”	—	—	—	—	—	—	—
Total revenue	New“$45-48 billion”	—	—	—	—	—	—	—
Capital expenditures	New“$38-40 billion”	—	—	—	—	—	—	—
Reality Labs operating losses	New“increase meaningfully year-over-year”	—	—	—	—	—	—	—
Tax rate	New“low-teens”	—	—	—	—	—	—	—
Total expenses	New“$96-98 billion”	—	—	—	—	—	—	—

Values in quotation marks are the company’s words. Change labels compare each statement with the same metric and target year in the previous release. HighGravityData does not judge whether guidance was met.