META Stock Explained: What Meta's Own Filings Show

In three months Meta, the company behind Facebook, Instagram and WhatsApp, had revenue of 60.8 billion dollars, up 28 percent in a year, and almost all of it came from ads. Its own quarterly and annual filings and its 2026 proxy statement show where the money comes from, what it is spending on and what it flags.

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META stock explained with the company's own numbers: revenue of $60.80 billion in the June 2026 quarter, up 28%, driven by advertising; ad impressions and the average price per ad; 3.60 billion daily active people and $16.86 of revenue per person; revenue by region; why operating income fell 8% (higher costs, which Meta attributes primarily to increases in employee compensation, including severance, infrastructure, legal-related and third-party AI token costs); Reality Labs; capital spending for AI and the 2026 range of $130 billion to $145 billion; cash, dividends and buybacks; Mark Zuckerberg's voting control; and three things Meta flags: AI, Europe and the courts. Facts, not financial advice.

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Chapters
0:00 Intro
0:48 The Money
1:26 The People
2:21 The Profit
3:31 Building for AI
4:50 For Shareholders
5:34 What It Flags
6:50 Three Things To Watch

Sources
- Meta Platforms, Inc., Form 10-Q, quarter ended June 30, 2026: https://www.sec.gov/Archives/edgar/data/1326801/000162828026050705/meta-20260630.htm
- Meta Platforms, Inc., Form 10-Q, quarter ended March 31, 2026: https://www.sec.gov/Archives/edgar/data/1326801/000162828026028526/meta-20260331.htm
- Meta Platforms, Inc., Form 10-K, 2025: https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm
- Meta Platforms, Inc., 2026 proxy statement (DEF 14A): https://www.sec.gov/Archives/edgar/data/1326801/000162828026025532/meta-20260416.htm
- SEC, Investor.gov, Form 10-K: https://www.investor.gov/introduction-investing/investing-basics/glossary/form-10-k
- SEC, Investor.gov, Form 10-Q: https://www.investor.gov/introduction-investing/investing-basics/glossary/form-10-q

Research and fact-checking: Wealth Filings. Henry is a fictional, illustrated presenter. This video is for information only, not financial advice.

Corrections and context
• Caption correction: at 6:36 the on-screen caption shows "more than a $0 trillion"; the narration says "more than a trillion dollars".