Meta shares drop despite revenue beat
Meta CEO Mark Zuckerberg wears the Meta Ray-Ban Display glasses, as he delivers a speech presenting the new line of smart glasses, during the Meta Connect event at the company’s headquarters in Menlo Park, California, U.S., Sept. 17, 2025.
Carlos Barria | Reuters
Meta reported third-quarter earnings on Wednesday after the bell. Here’s how the company did, compared with estimates from analysts polled by LSEG:
- Earnings per share: $7.25 adj. vs. $6.69 estimated
- Revenue: $51.24 billion vs. $49.41 billion estimated
Meta said that the implementation of President Donald Trump’s One Big Beautiful Bill Act resulted in a one-time, non-cash income tax charge of $15.93 billion. The company said it expects the act to result in “a significant reduction” in its U.S. federal cash tax payments for the rest of 2025 and future years.
The company said it expects fourth quarter revenue to be in the range of $56 billon to $59 billion. The midpoint of that range comes in above what was expected by analysts, according to StreetAccount.
Meta raised the low end of its total that its total expenses for the year by $2 billion, resulting in expenses that will come in between $116 billion to $118 billion. That figure was previously $114 billion to $118 billion.
The company also raised its 2025 guidance for capital expenditures, which will now come in the range of $70 billion to $72 billion. It’s prior outlook was between the range of $66 to $72 billion.
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Correction: Analysts expected Meta revenue to come in at $49.41 billion. That number was misstated in the earlier version of this story.
