Home / Filing changes / META
Free · no account · quoted from the filing
What changed in META's 10-Q
Source: 10-Q filed 2026-04-30 · compared against 10-Q 2025-10-30. Every passage below is quoted verbatim from the filing itself.
Revenue
This filing
Total revenue for the first quarter of 2026 was $56.31 billion, an increase of 33% compared to the first quarter of 2025
Tax
This filing
Effective tax rate was (23)% for the three months ended March 31, 2026. This rate reflects an income tax benefit of $8.03 billion related to the U.S. Corporate Alternative Minimum Tax transitional relief under Treasury Notice 2026-7.
Liquidity
This filing
Cash, cash equivalents, and marketable securities were $81.18 billion as of March 31, 2026.
Capital allocation
This filing
Dividend and dividend equivalent payments were $1.35 billion for the three months ended March 31, 2026.
Reality Labs
This filing
we expect our full-year 2026 RL operating losses to remain similar to 2025
Risk factors
This filing
including as a result of the conflict in the Middle East and volatility around international trade
Guidance
This filing
Absent any changes to our tax landscape, we expect our effective tax rate for the remaining quarters of 2026 to be between 13-16%.
What it means — the analyst reading
The passages above are the company's own words. The plain-English reading of them — what changed, why it matters, and the direction of travel — is part of the Filing Change Monitor.
See the Filing Change Monitor →Compared from narrative excerpts (outlook, risks, MD&A) of both filings — quotes are verbatim from the new filing. Not advice. Source: company SEC filings via stockportfolio.pro. Educational, not investment advice.