Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value to EBITDA (EV/EBITDA)
- Debt to Equity since 2012
- Price to Operating Profit (P/OP) since 2012
- Analysis of Debt
- Aggregate Accruals
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Meta Platforms Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Revenue exhibits a long-term upward trajectory, characterized by a period of stagnation in 2022 followed by aggressive expansion from 2023 through mid-2026. Quarterly revenue grew from $26.17 billion in March 2021 to a peak of $60.80 billion by June 2026, reflecting a substantial increase in top-line scale.
- Gross Profitability and Cost Management
- Gross profit has scaled in alignment with revenue, increasing from $21.04 billion in early 2021 to $49.47 billion by June 2026. While the cost of revenue has risen in absolute terms, it has remained relatively controlled relative to the growth in total revenue, maintaining strong gross margins throughout the observed period.
- Operating Expenditure Trends
- Research and development (R&D) represents the most significant area of expense growth, increasing more than fourfold from $5.19 billion in March 2021 to $21.65 billion in June 2026. In contrast, marketing and sales expenses have remained relatively stable, showing a trend of optimization as a percentage of total revenue. General and administrative expenses have fluctuated, with a notable spike to $5.60 billion in June 2026.
- Operational Performance
- Income from operations experienced a period of volatility in 2022, reaching a cyclical low of $5.66 billion in September 2022. Following this trough, operating income entered a sustained recovery phase, peaking at $24.74 billion in September 2025, indicating improved operational efficiency and higher monetization capabilities.
- Net Income and Tax Volatility
- Net income demonstrates significant volatility driven primarily by tax provisions and benefits rather than operational fluctuations. A critical anomaly is observed in September 2025, where a tax provision of $18.95 billion reduced net income to $2.70 billion despite strong operating results. This was followed by a tax benefit of $5.02 billion in March 2026, which contributed to a peak net income of $26.77 billion.
The overall financial trend indicates a transition from a period of operational contraction and high investment in 2022 to a phase of high-growth profitability. The aggressive increase in R&D spending suggests a strategic prioritization of long-term technological development, while the bottom-line results remain subject to substantial non-operational tax adjustments.