Meta Platforms (NASDAQ:META) is one of four Magnificent Seven companies reporting earnings this week. The social media giant is scheduled to report second-quarter (Q2) results Wednesday after the market closes.
Meta Platforms Q2 Earnings Estimates
Analysts expect Meta to report Q2 revenue of $60.22 billion and earnings per share of $7.14. That’s up from revenue of $47.52 billion and EPS of $5.16 in the year-ago quarter, according to Benzinga Pro.
Meta has topped revenue estimates for 15 consecutive quarters and beaten EPS expectations in 13 straight.
The company previously guided for Q2 revenue of $58 billion to $61 billion, putting consensus estimates near the upper end of its forecast range.
What Analysts Are Saying
Wedbush analyst Ygal Arounian said Meta’s Q2 results could highlight the strength of its advertising business, driven by AI-powered improvements and a favorable macroeconomic backdrop, in a recent note.
Beyond advertising, Arounian said investors should watch for updates on Meta AI, subscription offerings and a potential cloud business.
Arounian reiterated a Neutral rating and a $671 price target.
Capital expenditures are also expected to be a major focus. Wedbush projects Meta will spend $138 billion in capex in 2026, near the middle of management’s guidance range of $125 billion to $145 billion. For 2027, the firm forecasts capex will rise to $173 billion.
Here are other recent analyst ratings on Meta and their price targets:
- Guggenheim: Maintained Buy rating, with $800 price target
- Raymond James: Maintained Strong Buy rating, raised price target from $825 to $850
- Wells Fargo: Maintained Overweight rating, raised price target from $767 to $835
Key Items to Watch
Capital expenditures will likely be a primary focus. However, investors will also be watching for signs that Meta’s core advertising business remains strong.
In the first quarter, revenue rose 33% year over year, fueled by robust advertising growth. Ad impressions increased 19%, while the average price per ad climbed 12%.
CEO Mark Zuckerberg called Q1 a “milestone quarter with strong momentum.” Investors will be looking for that momentum to continue in the second quarter.
Daily active users across Meta’s family of apps will also be closely watched after growth slowed slightly last quarter due to softer international usage.
As one of four Magnificent Seven companies reporting earnings this week, Meta’s results could influence sentiment across the technology sector and broader market indexes.
The Facebook parent company is the eighth largest holding in the SPDR S&P 500 ETF Trust (NYSE:SPY) at 2.1% of assets. It’s also the 10th largest holding in the Invesco QQQ Trust (NASDAQ:QQQ) at 2.9% of assets.
Meta Price Action
Meta stock is up 0.4% to $596.25 on Tuesday versus a 52-week trading range of $520.26 to $796.25. Meta stock is down 8.3% year-to-date in 2026.
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