Meta Platforms, formerly known as Facebook, has released its 10-K filing for the year 2025. The company reported total revenue of $200.97 billion for the year, marking a 22% increase compared to 2024. This growth was primarily driven by a surge in advertising revenue. Ad impressions across Meta's Family of Apps (FoA), which includes Facebook, Instagram, Messenger, WhatsApp, and other services, increased by 12% year-over-year, while the average price per ad rose by 9%.
Income from operations for 2025 amounted to $83.28 billion, representing a 20% increase compared to the previous year. However, this growth was partially offset by a rise in costs and expenses, mainly attributed to increases in employee compensation and infrastructure costs.
The company's net income for 2025 was reported at $60.46 billion, with diluted earnings per share (EPS) of $23.49. Additionally, Meta Platforms made significant investments during the year, with capital expenditures, including principal payments on finance leases, totaling $72.22 billion. The company also allocated $26.26 billion for share repurchases of its Class A common stock and paid out $5.32 billion in total dividends and dividend equivalent payments.
As of December 31, 2025, Meta Platforms held $81.59 billion in cash, cash equivalents, and marketable securities, while its long-term debt stood at $58.74 billion. The effective tax rate for the year was reported at 30%, including the effects of the One Big Beautiful Bill Act implemented during the third quarter of 2025.
In terms of user metrics, the company reported that Family daily active people (DAP) averaged 3.58 billion in December 2025, marking a 7% increase year-over-year.
Meta Platforms highlighted the impact of regulatory developments on its advertising revenue, citing the General Data Protection Regulation, ePrivacy Directive, European Digital Services Act, Digital Markets Act, and U.S. state privacy laws as factors affecting its ability to use data signals in ad products. The company also acknowledged the adverse effects of changes made by mobile operating system and browser providers, such as Apple and Google, which limit the collection and use of signals for ad targeting and measurement.
To mitigate these challenges, Meta Platforms is actively developing privacy-enhancing technologies and tools to improve ad targeting and measurement capabilities. The company is also making significant investments in artificial intelligence (AI) to enhance its ad delivery, targeting, and measurement capabilities.
Furthermore, Meta Platforms acknowledged the impact of macroeconomic and geopolitical conditions on its user growth and engagement, as well as advertising revenue. The company highlighted factors such as inflation, economic policies, international trade, and competitive products and services as contributors to fluctuations in advertising budgets and user engagement.
The 10-K filing also outlined Meta Platforms' investment philosophy, with 82% of its total costs and expenses allocated to its Family of Apps, and 18% to its Reality Labs segment, which focuses on virtual and augmented reality-related consumer hardware, software, and content. The company emphasized that its investments in these areas are aimed at significant long-term opportunities.
Finally, Meta Platforms provided insights into its revenue trends by user geography, noting that revenue in regions such as the United States & Canada and Europe is relatively higher due to the size and maturity of online and mobile advertising markets. In 2025, revenue increased by 21% in the United States & Canada, 24% in Europe, 20% in Asia-Pacific, and 27% in the Rest of the World.
As a result of these announcements, the company's shares have moved -0.09% on the market, and are now trading at a price of $620.25. For more information, read the company's full 10-K submission here.
