# Meta Platforms, Inc. (META) Q2 2025 Financial Results Summary
Meta Platforms, Inc. (Nasdaq: META) released its financial results for the quarter ended June 30, 2025, on July 30, 2025. The report outlines significant revenue growth and operational metrics.
### Financial Highlights for Q2 2025
– **Revenue**: $47.52 billion, a **22% increase** compared to $39.07 billion in Q2 2024.
– **Costs and Expenses**: $27.07 billion, reflecting a **12% increase** from $24.22 billion in the same quarter last year.
– **Income from Operations**: $20.44 billion, up **38%** from $14.85 billion.
– **Operating Margin**: Improved to **43%** from **38%** a year ago.
– **Provision for Income Taxes**: $2.20 billion, a **34% increase** from $1.64 billion.
– **Effective Tax Rate**: Constant at **11%** year-over-year.
– **Net Income**: $18.34 billion, representing a **36% increase** from $13.47 billion in Q2 2024.
– **Diluted Earnings Per Share (EPS)**: $7.14, up **38%** from $5.16 a year earlier.
### Operational Metrics
– **Family Daily Active People (DAP)**: Averaged 3.48 billion, showing a **6% increase** from the previous year.
– **Ad Impressions**: Increased by **11%** year-over-year.
– **Average Price per Ad**: Increased by **9%** compared to Q2 2024.
### Cash and Capital Highlights
– **Cash, Cash Equivalents, and Marketable Securities**: $47.07 billion as of June 30, 2025.
– **Cash Flow from Operating Activities**: $25.56 billion.
– **Free Cash Flow**: $8.55 billion.
– **Capital Expenditures**: $17.01 billion, including principal payments on finance leases.
### Capital Return Program
– **Share Repurchases**: Conducted share repurchases of Class A common stock totaling **$9.76 billion**.
– **Dividends**: Declared total dividend and dividend equivalent payments of **$1.33 billion**.
### Commentary from CFO
– **Guidance for Q3 2025**: Revenue expected to be between $47.5 billion and $50.5 billion, with foreign currency effects anticipated to provide about a **1% tailwind** to year-over-year revenue growth.
– **Full Year Expense Outlook for 2025**: Expected total expenses narrowed to **$114-118 billion**, up approximately **20-24%** year-over-year.
### Other Considerations
– Anticipated upward pressure on 2026 expenses, primarily due to infrastructure and employee compensation costs.
– Expected capital expenditures for 2025 are now in the range of **$66-72 billion**, up approximately **$30 billion** year-over-year at the mid-point.
– New U.S. tax law expected to reduce cash tax liabilities.
### Key Metrics Summary Table
| Metric | Q2 2025 | Q2 2024 | Year-over-Year Change |
|---|---|---|---|
| Revenue | $47.52B | $39.07B | 22% |
| Costs and Expenses | $27.07B | $24.22B | 12% |
| Income from Operations | $20.44B | $14.85B | 38% |
| Operating Margin | 43% | 38% | +5pp |
| Net Income | $18.34B | $13.47B | 36% |
| Diluted EPS | $7.14 | $5.16 | 38% |
| Family DAP | 3.48B | 3.28B | 6% |
| Ad Impressions | Up 11% | N/A | 11% |
| Average Price per Ad | Up 9% | N/A | 9% |
| Free Cash Flow | $8.55B | N/A | N/A |
| Share Repurchases | $9.76B | N/A | N/A |
| Dividends | $1.33B | $1.27B | 5% |
### Conclusion
Meta Platforms, Inc. delivered a strong performance in Q2 2025, with substantial growth in both revenue and net income, alongside strategic capital management through share repurchases and dividends. The company remains focused on its future expansion plans in the evolving digital landscape.
### META PLATFORMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
(Unaudited)
| Description | Three Months Ended June 30, | Six Months Ended June 30, | ||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | 47,516 | 39,071 | 89,830 | 75,527 |
| Costs and expenses: | ||||
| – Cost of revenue | 8,491 | 7,308 | 16,063 | 13,948 |
| – Research and development | 12,942 | 10,537 | 25,092 | 20,515 |
| – Marketing and sales | 2,979 | 2,721 | 5,735 | 5,285 |
| – General and administrative | 2,663 | 3,658 | 4,943 | 7,114 |
| Total costs and expenses | 27,075 | 24,224 | 51,833 | 46,862 |
| Income from operations | 20,441 | 14,847 | 37,997 | 28,665 |
| Provision for income taxes | 2,197 | 1,641 | 3,935 | 3,455 |
| Net income | 18,337 | 13,465 | 34,981 | 25,834 |
| Earnings per share: | ||||
| – Basic | $ 7.28 | $ 5.31 | $ 13.87 | $ 10.17 |
| – Diluted | $ 7.14 | $ 5.16 | $ 13.56 | $ 9.86 |
| Weighted-average shares used to compute | ||||
| – earnings per share: | ||||
| – Basic | 2,518 | 2,534 | 2,522 | 2,540 |
| – Diluted | 2,570 | 2,610 | 2,580 | 2,619 |
### META PLATFORMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
| Description | June 30, 2025 | December 31, 2024 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| – Cash and cash equivalents | $ 12,005 | $ 43,889 |
| – Marketable securities | 35,066 | 33,926 |
| – Accounts receivable, net | 16,561 | 16,994 |
| – Prepaid expenses and other current | 9,981 | 5,236 |
| assets | ||
| Total current assets | 73,613 | 100,045 |
| – Non-marketable equity investments | 21,988 | 6,070 |
| – Property and equipment, net | 147,039 | 121,346 |
| – Operating lease right-of-use assets | 15,662 | 14,922 |
| – Goodwill | 20,654 | 20,654 |
| – Other assets | 15,788 | 13,017 |
| Total assets | $ 294,744 | $ 276,054 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| – Accounts payable | $ 10,271 | $ 7,687 |
| – Operating lease liabilities, current | 1,977 | 1,942 |
| – Accrued expenses and other current | 25,057 | 23,967 |
| liabilities | ||
| Total current liabilities | 37,305 | 33,596 |
| – Operating lease liabilities, non-current | 18,751 | 18,292 |
| – Long-term debt | 28,832 | 28,826 |
| – Long-term income taxes | 12,046 | 9,987 |
| – Other liabilities | 2,740 | 2,716 |
| Total liabilities | 99,674 | 93,417 |
| Commitments and contingencies | ||
| Stockholders’ equity: | ||
| – Common stock and additional paid-in | 88,496 | 83,228 |
| capital | ||
| – Accumulated other comprehensive income | 229 | -3,097 |
| (loss) | ||
| – Retained earnings | 106,345 | 102,506 |
| Total stockholders’ equity | 195,070 | 182,637 |
| Total liabilities and stockholders’ equity | $ 294,744 | $ 276,054 |
