Meta Platforms reported second-quarter 2026 earnings of $6.18 per share, down 13.4% year over year and missing the Zacks Consensus Estimate by 12.96%, while revenues rose 28% to $60.80 billion. Advertising revenues, which make up the vast majority of the Family of Apps segment, increased 27% to $59.36 billion, driven by a 14% rise in ad impressions and a 12% increase in average price per ad. Total costs and expenses surged 55% to $42.03 billion, including $2.40 billion in legal charges and $1.18 billion in severance costs, causing operating income to decline 8.2% to $18.78 billion. The company raised the lower end of its full-year 2026 expense outlook and now expects total expenses between $165 billion and $169 billion, while narrowing its capital expenditure forecast to $130 billion to $145 billion. For the third quarter, Meta guided for revenues of $61 billion to $64 billion.
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