# Meta Platforms, Inc.
> Meta · META · Menlo Park, California
- Profile type: Company
- Profile status: baseline
- Last updated: 2026-05-03T00:00:00.000Z
- Canonical URL: https://thestateofstreaming.com/companies/meta-platforms/
- Also known as: Meta, Facebook (legacy corporate name), META
## Summary
Meta Platforms, Inc. (NASDAQ: META) is the publicly traded social-media, advertising, and consumer-hardware company operating Facebook, Instagram, WhatsApp, Threads, Messenger, and Reality Labs. With $164B+ in 2024 revenue (vast majority from Facebook + Instagram ads), Meta sits in our coverage as the digital-ad duopoly counterpart to Google, a platform-ethics critique target, and a reference point for engagement-and-frequency CTV arguments.

## Company facts

- Ticker: META
- Founded: 2004
- Headquarters: Menlo Park, California
- Domain: about.meta.com


## Latest metrics

- Revenue: $56.31 billion Q1 2026 (+33% YoY); $200.97 billion FY2025 (+22% YoY)
- ARPU: Ad impressions +19% YoY, average price per ad +12% YoY (Q1 2026)
- As of: 2026-03-31
- Source: https://www.sec.gov/Archives/edgar/data/1326801/000162828026028526/meta-20260331.htm


## Recent filings

- 2026-04-30 — 10-Q: Q1 2026: revenue $56.31B (+33% YoY), net income $26.77B (+61% YoY), diluted EPS $10.44 (+62% YoY), DAP 3.56B (+4% YoY). Ad impressions +19% YoY, average price per ad +12% YoY. Operating margin 41%. Capex $19.84B. (https://www.sec.gov/Archives/edgar/data/1326801/000162828026028526/meta-20260331.htm)
- 2026-04-30 — 8-K: Q1 2026 earnings release. Revenue $56.31B (+33% YoY). Filed April 30, 2026 alongside the 10-Q. (https://www.sec.gov/Archives/edgar/data/1326801/000162828026028364/)
- 2026-01-29 — 10-K: FY2025 annual report: revenue $200.97B (+22% YoY), operating income $83.28B (41% margin), DAP 3.58B (+7% YoY). Ad impressions +12% full year, average price per ad +9% full year. Net income $60.46B. (https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm)


## Key facts

- Meta Platforms, Inc. (NASDAQ: META) was founded as Facebook in February 2004 by Mark Zuckerberg and his Harvard classmates; the company rebranded to Meta Platforms in October 2021 to reflect the broader portfolio beyond the Facebook social network. — Meta: https://about.meta.com/company-info/
- Meta reported $164.5 billion in 2024 revenue, of which approximately $160.6 billion came from advertising — making Meta the largest digital-advertising business outside of Alphabet (Google). — Meta Investor Relations: https://investor.atmeta.com/financials/
- Meta operates the Family of Apps segment (Facebook, Instagram, WhatsApp, Threads, Messenger) and the Reality Labs segment (Quest VR headsets, Ray-Ban Meta smart glasses, Horizon Worlds); Reality Labs has reported sustained operating losses. — Meta Investor Relations: https://investor.atmeta.com/financials/
- Meta files standard SEC quarterly and annual reports as a NASDAQ-listed company under META; the most recent 10-K, 10-Q, and 8-K filings are maintained on the Meta Investor Relations site and on EDGAR. — Meta Investor Relations: https://investor.atmeta.com/sec-filings/
- Meta has been the subject of sustained platform-ethics critique from independent voices — including Creative Media chairman Peter Csathy — focused on engagement-products design, content moderation policy, and platform-economy dynamics that affect the broader CTV and creator-economy markets we cover. — the brAIn (Peter Csathy): https://themediabrain.substack.com/
- Meta's FY2025 10-K (filed January 29, 2026) reported total revenue of $200.97 billion (+22% YoY), operating income of $83.28 billion (41% margin), and average daily active people (DAP) of 3.58 billion (+7% YoY) for December 2025. Ad impressions grew 12% and average price per ad rose 9% for the full year. — Meta 10-K FY2025 (SEC EDGAR): https://www.sec.gov/Archives/edgar/data/1326801/000162828026003942/meta-20251231.htm
- Meta's Q1 2026 10-Q (filed April 30, 2026) reported revenue of $56.31 billion (+33% YoY), net income of $26.77 billion (+61% YoY), diluted EPS of $10.44 (+62% YoY), and average DAP of 3.56 billion (+4% YoY). Ad impressions grew 19% YoY; average price per ad up 12% YoY. Operating margin was 41%. — Meta 10-Q Q1 2026 (SEC EDGAR): https://www.sec.gov/Archives/edgar/data/1326801/000162828026028526/meta-20260331.htm


## Related

- peter csathy (Recurring subject of platform-ethics critique) — https://thestateofstreaming.com/people/peter-csathy/
- alphabet (Digital-advertising duopoly counterpart (Meta + Google)) — https://thestateofstreaming.com/companies/alphabet/


## External coverage

- Meta: Meta — corporate site (https://about.meta.com/)
- Meta: Meta Investor Relations (https://investor.atmeta.com/)
- Meta: Meta Company Info (https://about.meta.com/company-info/)

## Profile
Meta Platforms is the publicly traded social-media, advertising, and consumer-hardware company that operates Facebook, Instagram, WhatsApp, Threads, the Messenger family, and the Reality Labs VR/AR business. Founded as Facebook in February 2004 and rebranded to Meta Platforms in October 2021, the company reported $164.5 billion in 2024 revenue, of which approximately $160.6 billion came from advertising — placing Meta alongside Alphabet's Google as one of the two structural digital-advertising businesses against which the rest of the ad-tech ecosystem competes for the same buyer budgets.

Meta sits in our coverage on three vectors. First, as one of the duopoly digital-advertising counterparts to Google — meaning every CTV-advertising story about budget shifts, performance benchmarks, and identity-stack dynamics implicitly references Meta as the comparator. Second, as a platform-ethics critique target — the recurring subject of Peter Csathy's brAIn newsletter analysis on engagement-products design, content-moderation policy, and platform-economy dynamics. Third, as the structural reference point for engagement-and-frequency arguments about CTV — the framing that Kirby Grines and others apply when reading platform value through session length and habit formation rather than raw user counts.

Meta files standard SEC quarterly and annual reports as a Nasdaq-listed company under META. The most recent 10-K, 10-Q, and 8-K filings are maintained on the Meta Investor Relations site and on EDGAR.
## Coverage on The State of Streaming
- [Meta-AWS Graviton Deal Is the Compute Moat, Disclosed](https://thestateofstreaming.com/opinion/2026/05/meta-aws-graviton-continuous-ai/) — 2026-05-03
- [Netflix Bolts a Discovery Feed Onto Itself, and the Ad-Load Math Comes With It](https://thestateofstreaming.com/content-programming/2026/05/netflix-clips-vertical-video-discovery-war/) — 2026-05-03
- [Meta's 70% of Social Ad Revenue Is the Walled-Garden Math](https://thestateofstreaming.com/opinion/2026/05/social-ad-concentration-omdia-meta-70/) — 2026-05-03

## Tags

- public-company
- nasdaq
- social-media
- digital-advertising
- facebook
- instagram
- reality-labs
- duopoly

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