Meta Platforms, Inc. Revenue & Financials

The number that should stop you cold: $2.7 million. That's Meta's revenue per employee. Seventy-four thousand people generating $201 billion. For context, Goldman Sachs — a company literally in the business of making money — generates about $1.5 million per employee. Meta's ratio is almost double, and it's selling ads, not investment banking services. FY2025 was extraordinary by any standard. Total revenue hit $200.97 billion (up ~22% year-over-year), net income reached $60.46 billion (30.1% net margin), and the company did this while spending $72.2 billion on capital expenditures and $57.4 billion on R&D. Most companies choose between growth and profitability. Meta printed both. But Q1 2026 is where the story gets interesting. Revenue surged 33% to $56.31 billion — an acceleration from the 22% full-year growth rate. Net income was $26.77 billion, up 61% year-over-year, though that included an $8.03 billion tax benefit that flatters the comparison. Strip out the tax benefit and adjusted EPS was still $7.31, beating consensus by 9%. Ad impressions and average price per ad both increased — the rare double-win that means Meta is showing more ads AND charging more for each one. The stock still dropped after earnings. Why? The $125-145 billion 2026 capex guidance. Investors looked at that number — larger than the annual revenue of all but about 30 companies on Earth — and asked: what exactly are the returns? Meta's answer is essentially 'trust us, AI will transform everything.' That's a lot of trust at $130 billion. Reality Labs remains the financial black hole: ~$4.8 billion in revenue against ~$17.7 billion in operating losses for FY2025. The division has now lost over $60 billion cumulatively since 2019. Zuckerberg doesn't care. He controls the company through dual-class shares and has said repeatedly that he views AR/VR as a decade-long bet. Market cap sits around $1.55 trillion as of May 2026, with shares trading in the $610-650 range on NASDAQ under ticker META. The company has been aggressively buying back stock, which supports per-share metrics even as absolute spending rises. Revenue per employee of $2.7 million — among the highest of any large company globally — reflects both the leverage of the ad model and the post-2022 headcount discipline.