Meta reported a 24% rise in fourth-quarter revenue to $59.9bn ($58.6bn expected ).
The number of people using at least one of Meta’s apps on a daily basis rose7 % to 3.58bn. Ad impressions rose 18%, while average price per ad rose 6%.
Operating income was up 6% to $24.7bn ($24.0bn expected), and margins fell from 48% to 41%.
Free cash flow rose 7% to $14.1bn, with capital expenditure (capex) rising to $22.1bn as AI investment continues. Net debt, including leases, was $2.3bn.
First-quarter 2026 revenue is expected in the range of $53.5–56.5bn. Full-year capex guidance has been set at $115-135bn (2025: $72.2bn )
The shares were up 7.5% in pre-market trading.
Our view
HL view to follow.
Meta key facts
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