Start 30 days free, no card. Full Pro access for a month, then decide. Start free
Loading
Start 30 days free, no card. Full Pro access for a month, then decide. Start free
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Doug Anmuth | JPMorgan | 13 (15%) |
| Brian Nowak | Morgan Stanley | 13 (0%) |
| Mark Shmulik | Bernstein | 11 (9%) |
| Ken Gawrelski | Wells Fargo | 11 (9%) |
| Justin Post | Bank of America | 11 (18%) |
| Eric Sheridan | Goldman Sachs | 9 (0%) |
| Youssef Squali | Truist Securities | 8 (25%) |
| Ron Josey | Citigroup | 7 (14%) |
| Ross Sandler | Barclays | 6 (0%) |
| Mark Mahaney | Evercore ISI | 4 (25%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Morgan Stanley | 1 | 13 (0%) |
| JPMorgan | 1 | 13 (15%) |
| Bank of America | 1 | 11 (18%) |
| Bernstein | 1 |
| 11 (9%) |
| Wells Fargo | 1 | 11 (9%) |
| Goldman Sachs | 1 | 9 (0%) |
| Truist Securities | 1 | 8 (25%) |
| Citigroup | 1 | 7 (14%) |
Q4 Family of Apps revenue reached $58.9 billion, up 25%, with free cash flow of $14.1 billion as AI coding productivity reached an inflection point and glasses sales tripled in 2025. The strong Q1 2026 guide of $53.5-$56.5 billion implied accelerating growth entering 2026. FY2026 CAPEX was guided at $115-$135 billion with expenses of $162-$169 billion.
Cloud & AI | Innovation & R&D | Capex Investment | Revenue Growth | Product Launch | Capital Allocation | Competitive Dynamics | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 6 | 4 | 3 | 4 | 2 | 1 | |
| 2025Q1 | 7 | 2 | 5 | 2 | 4 | 2 | 2 | 2 |
| 2025Q2 | 5 | 6 | 6 | 2 | 2 | 5 | 1 | 2 |
| 2025Q3 | 4 | 5 | 4 | 7 | 3 | 3 | 1 | 4 |
| 2025Q4 | 5 | 8 | 3 | 4 | 2 | 4 | 3 | 3 |
| 2026Q1 | 9 | 3 | 2 | 3 | 3 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Cloud & AI | 7 | 7 | 5 | 4 | 5 | 9 |
| Innovation & R&D | 6 | 2 | 6 | 5 | 8 | 3 |
| Capex Investment | 4 | 5 | 6 | 4 | 3 | 2 |
| Revenue Growth | 3 | 2 | 2 | 7 | 4 | 3 |
| Product Launch | 4 | 4 | 2 | 3 | 2 | 3 |
| Capital Allocation | 2 | 5 | 3 | 4 | ||
| Competitive Dynamics | 2 | 2 | 1 | 1 | 3 | 3 |
| Margin | 1 | 2 | 2 | 4 | 3 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $48.38B | +20.6% | $8.02 | +50.5% | 48.3% | 43.1% | $13.56B |
| FY2025 Q1 | $42.31B | +16.1% | $6.43 | +36.5% | 41.5% | 39.3% | $11.09B |
| FY2025 Q2 | $47.52B | +21.6% | $7.14 | +38.4% | 43.0% |
| 38.6% |
| $9.02B |
| FY2025 Q3 | $51.24B | +26.2% | $1.05 | -82.6% | 40.1% | 5.3% | $11.17B |
| FY2025 Q4 | $59.89B | +23.8% | $8.87 | +10.6% | 41.3% | 38.0% | $14.83B |
| FY2026 Q1 | $56.31B | +33.1% | $10.44 | +62.4% | 40.6% | 47.5% | $13.23B |
| FY2026 Q2 | $60.80B | +28.0% | $6.18 | -13.4% | 30.9% | 26.1% | $1.75B |
| Year | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2022 | $116.61B | — | $8.58 | — | 24.8% | 19.9% | $19.04B |
| FY2023 | $134.90B | +15.7% | $14.90 | +73.7% | 34.7% | 29.0% | $43.85B |
| FY2024 | $164.50B | +21.9% | $23.92 | +60.5% | 42.2% | 37.9% | $54.07B |
| FY2025 | $200.97B | +22.2% | $23.49 | -1.8% | 41.4% | 30.1% | $46.11B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Calendar quarter Q4 2025Earnings call Jan 28, 2026
FY2025 Q4 in brief
Q4 Family of Apps revenue reached $58.9 billion, up 25%, with free cash flow of $14.1 billion as AI coding productivity reached an inflection point and glasses sales tripled in 2025.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
GAAP revenue YoY +23.8% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
Sources. Tellvest earnings-call sentiment score for Meta Platforms, Inc. (META), FY2025 Q4: 7/10. Scores: Meta Platforms, Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: META daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
What META and other companies said about each other on FY2025 Q4 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“In Q2, Meta reported over a 5% increase in ad conversions on Instagram and 3% gain on Facebook feed.”
NVIDIA cites Meta's ad-conversion gains from generative-AI recommendation models running on its GPUs.
“We launched the latest AI glasses from Meta across all stores.”
Best Buy launched Meta's latest AI glasses across all stores with Meta-staffed showcase areas, and says demand for demos outpaces available appointments.
“Driven by contracts signed with Meta, NVIDIA, and others as we continue to diversify our customer backlog.”
Meta signed a cloud contract contributing to Oracle’s $68B RPO growth in the quarter.
“we're now partnered with Meta. We're now -- we're partnered with the Trade Desk, Google. Most recently, we partnered with Pinterest and TikTok, and we are successfully gathering incremental budgets for campaigns on these surfaces”
Instacart names Meta as an off-platform advertising partner where it deploys CPG budgets using its first-party data, an incremental demand signal for Meta's ad platform.
“For the agreement with Meta, they ended up choosing 2 sodium-cooled reactor developers following their nuclear RFP process.”
An analyst notes Meta ran a nuclear RFP and selected two sodium-cooled reactor developers, a signal on the scale and formality of Meta's power-procurement effort for AI/data-center demand.
“having Meta as a as one of the kind of basically a lead customer helps others want to come follow and kind of repeat that”
Management frames Meta as a lead customer whose commitment de-risks nuclear offtake for other hyperscalers, implying Meta is an early mover among data-center operators procuring firm power.
“the key update is our agreement with Meta in support of a 1.2 gigawatt Aurora campus. The agreement advances plans for phase deployment with an initial phase of 150 megawatts targeted around 2030”
Meta signed a prepayment-for-power agreement backing a 1.2 GW Oklo campus in Ohio (initial 150 MW around 2030), a signal on Meta securing long-duration nuclear baseload for its data centers.
“Meta has been competitive on iOS traffic for quite some time. This wasn't a new dynamic. It did not have a meaningful impact on us in any way.”
Unity downplayed a market scare about Meta becoming more competitive on iOS advertising inventory, indicating no material share shift.
“About Meta, early in this month, we delivered both contracted tranches to Meta on time, and we are now fully in servicing stage.”
Nebius fully delivered both capacity tranches of its Meta contract on time, with Meta now in full servicing stage, reflecting Meta's ongoing reliance on external AI compute.
“we partnered with Meta to demonstrate large-scale validation of GPUs and networking prior to deployment into clusters”
Meta is validating large-scale GPU and networking clusters (via the Open Compute Project) before deployment, signaling continued AI-infrastructure build-out at Meta.
“Ciena Corporation's unique DCOM solution leverages our XGS and other routing and switching products and was initially designed with Meta to meet hyperscale requirements.”
Ciena co-created its DCOM out-of-band management solution with Meta, whose deployment is now expanding to more data centers.
“And Instagram is coming next.”
Netflix flags Instagram (Meta) as the next platform entering the TV/video content space, extending the competitive set for viewer attention.
“Maybe similar to what you see at Anthropic in coding today”
An analyst cited Anthropic as an example of a model that excels at a specific use case (coding), asking whether Meta needs a leading general-purpose model, a signal on Anthropic's recognized strength in coding.
“I don't think we either of us mentioned the Manus acquisition in the upfront comments”
Zuckerberg flagged Meta's acquisition of Manus, an AI agent tool with a subscription base of businesses, which Meta plans to integrate into its ads and business manager for more integrated business solutions.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
META Meta Platforms, Inc. | 7 | +23.8% | |
| DASH DoorDash | 7 | +37.7% | |
| EVER EverQuote, Inc. | 9 | +32.5% | |
| GOOGL Alphabet Inc. | 9 | +18.1% | |
| MAX MediaAlpha, Inc. | 4 | -3.2% | |
| NBIS Nebius Group N.V. | 8 | +500.8% | |
| PINS Pinterest, Inc. | 7 | +14.3% | |
| RDDT Reddit, Inc. | 9 | +69.7% | |
| SNAP Snap Inc. | 8 | +10.2% | |
| SPOT Spotify Technology S.A. | 8 | +6.8% | |
| YELP Yelp Inc. | 4 | -0.5% |