Meta Platforms stock holds near record levels after strong results

Meta Platforms (US30303M1027) stock is trading near record territory, and the latest reported numbers still set the tone: second-quarter 2026 revenue reached $38.3 billion, net income was $13.5 billion, and capital expenditures for 2026 were guided to $64 billion-$72 billion.

The comparison matters because revenue rose 22% year over year in the second quarter, while earnings per share came in at $5.16, both figures underscoring how profitable Meta remains as spending keeps climbing.

Revenue up 22%

Second-quarter 2026 revenue of $38.3 billion was up 22% from a year earlier, showing that Meta can still grow at a rapid pace even at a massive scale. Net income of $13.5 billion also points to a wide profit base, with operating momentum still anchored by advertising demand.

Guidance for full-year 2026 capital expenditures of $64 billion-$72 billion adds another layer to the story. The market is not only pricing growth, but also trying to assess how much that spending will weigh on future free cash flow.

EPS at $5.16

EPS of $5.16 in the second quarter of 2026 gives a cleaner view of operating leverage than revenue alone. It shows that Meta converted a large share of sales into profit even as infrastructure and AI-related investment remained elevated.

The second-quarter net income figure of $13.5 billion is especially important because it confirms that profitability is still substantial at the same time as the company is committing tens of billions of dollars to capital spending in 2026.

Capital spending at $64 billion-$72 billion

Meta's 2026 capital expenditure guide of $64 billion-$72 billion is the clearest forward-looking number in the latest earnings context. That range is large enough to matter for margin expectations, even if the revenue base continues to expand at double-digit rates.

For investors, the key tension is simple: revenue grew 22% in the second quarter, but future spending still has to be financed by that operating strength. The balance between growth and investment is now the main valuation variable.

Family of Apps still anchors the business

The core business remains the Family of Apps, which continues to provide the scale behind Meta's revenue and profit base. The second-quarter 2026 figures show that the advertising engine is still producing enough cash flow to support the company's 2026 spending plan.

That matters because the current numbers are not just about one quarter. They show whether Meta can keep monetizing its platforms while also funding the infrastructure it wants for the next phase of product development.

Shares near record levels

Meta Platforms shares are near record levels as of 17 July 2026, which puts the latest earnings numbers in direct market context. The stock price is being judged against 2026 revenue of $38.3 billion, EPS of $5.16 and guided capital expenditures of $64 billion-$72 billion.

That combination leaves the market focused on whether growth can stay ahead of spending through the rest of 2026.