A federal judge dismissed the FTC’s 2020 lawsuit challenging Meta’s acquisitions of Instagram and WhatsApp, finding the agency failed to prove Meta holds monopoly power in social networking.
Judge Boasberg highlighted the fast-evolving competitive landscape, citing rivals like TikTok and YouTube to underscore the difficulty of defining Meta’s product market.
The ruling, marking nearly a five-year legal battle victory, removes a major regulatory obstacle as Meta develops AI-powered features and messaging integration.
Meta’s stock partially recovered after pulling back more than 25% from mid-August highs amid concerns over higher capital expenditures.

8 hours ago

Bloomberg

Meta Platforms reshapes leadership amid AI push

META

Management Change

Layoffs

John Hegeman, Meta’s Chief Revenue Officer, is stepping down after 17 years to start his own business
Andrew Bocking, head of ads product and strategy, will assume Hegeman’s responsibilities
Clara Shih (Business AI unit lead) and Chief AI Scientist Yann LeCun are also preparing to depart amid the AI leadership reshuffle
Meta eliminated approximately 600 positions from its AI unit in October as part of streamlining under the new Superintelligence Labs division

9 hours ago

Bloomberg

Meta Platforms reports delays in Red Sea subsea cable projects

META

New Projects/Investments

Repeated missile attacks by Iran-backed Houthi militants over the past two years have created significant security risks for cable-laying operations in the Red Sea.
Meta’s 2Africa cable, a 45,000-kilometer system encircling Africa, remains incomplete in its southern Red Sea segment due to operational, regulatory and geopolitical hurdles.
Google’s Blue-Raman cable and other subsea systems such as India-Europe-Xpress and Sea-Me-We 6 also face similar setbacks with no updated timelines provided.
These delays hinder broadband growth in underserved regions, elevate consumer costs, and impose financial strain on cable investors unable to monetize their projects.
Tech firms are exploring alternative overland routes through countries like Bahrain and Saudi Arabia to bypass the conflict zone despite higher costs and complexities.

1 day ago

Bloomberg

Meta chief AI scientist LeCun to leave for startup

META

Management Change

New Projects/Investments

Yann LeCun, Meta’s Turing Award–winning chief AI scientist and FAIR founder, plans to depart in coming months to launch a world-model–focused startup and is in early fundraising talks.
Meta recently reorganized its AI unit into a “superintelligence” push under Alexandr Wang, moving LeCun’s reporting line from the chief product officer to Wang.
Markets reacted as Meta shares fell about 1.2% the morning the report surfaced.
The departure follows internal tensions over the underwhelming reception to Llama 4 and aggressive hiring in the new AI division.

8 days ago

Fortune

Meta expects 10% of 2024 revenue from scam ads

META

Revenue Acceleration/Inflection

Guidance Update

New Projects/Investments

Meta estimated scam and banned-goods ads could account for 10% of 2024 revenue (approx. $16 billion)
Internal guidelines capped enforcement actions if they would impact more than 0.15% of total revenue, influencing ad removals
Separate estimates show Meta’s apps display roughly 15 billion higher-risk scam ads daily
Meta reported $164.5 billion in 2024 sales, Q3 revenue of $51.24 billion (+26% YoY), and raised full-year expense guidance by $2 billion to fund AI investments

Nov 7, 2025, 9:08 AM

CNBC

Meta Platforms completes $30 billion senior notes offering

META

Debt Issuance

On November 3, 2025, Meta Platforms completed an offering of $30 billion aggregate principal amount of senior notes: $4 billion 4.200% due 2030, $4 billion 4.600% due 2032, $6.5 billion 4.875% due 2035, $4.5 billion 5.500% due 2045, $6.5 billion 5.625% due 2055 and $4.5 billion 5.750% due 2065.
The notes were issued under the Base Indenture dated August 9, 2022, as supplemented by a Fourth Supplemental Indenture dated November 3, 2025.
The offering was underwritten by a syndicate led by Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC.

Nov 3, 2025, 9:18 PM

8-K

Meta reports Q3 2025 results and outlines AI investment plans

META

Earnings

Guidance Update

New Projects/Investments

Q3 revenue was $51.2 billion, up 26% YoY, driven by Family of Apps revenue of $50.8 billion (+26% YoY) and Reality Labs revenue of $470 million (+74% YoY); operating income was $20.5 billion (40% margin) and net income was $2.7 billion ($1.05 EPS), or $18.6 billion ($7.25 EPS) excluding a one-time tax charge.
CapEx in Q3 totaled $19.4 billion; free cash flow was $10.6 billion. The company repurchased $3.2 billion of Class A shares, paid $1.3 billion in dividends, and ended the quarter with $44.4 billion in cash and marketable securities versus $28.8 billion in debt.
Outlook for Q4 2025 revenue is $56–59 billion; full-year 2025 expenses are expected to be $116–118 billion and CapEx $70–72 billion. For 2026, Meta anticipates faster growth in CapEx and operating expenses driven by AI infrastructure and talent investments.
AI and product initiatives: annual run rate of AI-powered ad tools exceeds $60 billion; over 1 billion monthly users of Meta AI; launch of Vibes and next-gen AI glasses sold out within 48 hours, underpinning plans to unify AI systems and expand compute capacity for superintelligence efforts.

Oct 29, 2025, 8:30 PM

Transcript

Meta reports Q3 2025 earnings

META

Earnings

Meta’s Q3 2025 total revenue was $51.242 billion, comprising $50.082 billion in advertising and $0.690 billion in other revenue, up from $40.589 billion a year ago.
Operating income reached $20.535 billion, with a 40% operating margin.
Net income was $2.709 billion, reflecting an 87% effective tax rate due to a one-time $15.93 billion non-cash tax charge; pro forma net income excluding the charge was $18.64 billion.
Daily Active People grew to 3.54 billion, and average revenue per person rose to $14.46.
Free cash flow totaled $10.625 billion in the quarter.

Oct 29, 2025, 8:30 PM

Presentation

Meta reports Q3 2025 results

META

Earnings

Guidance Update

New Projects/Investments

Meta delivered $51.2 billion in total Q3 revenue, up 26% YoY; family-of-apps revenue was $50.8 billion (+26%), with 3.5 billion daily actives, and Reality Labs revenue reached $470 million (+74%).
Operating income was $20.5 billion (40% margin), as total expenses rose 32% due to legal charges, higher employee compensation, and increased infrastructure costs.
Net income was $2.7 billion ($1.05 per share), reflecting an 87% tax rate; excluding a one-time tax adjustment, net income and EPS would have been $18.6 billion and $7.25, respectively.
Capital expenditures totaled $19.4 billion, free cash flow was $10.6 billion, and the quarter closed with $44.4 billion in cash and marketable securities against $28.8 billion in debt.
For 2026, Meta foresees notably higher CapEx and expense growth to support AI compute and infrastructure investments, while EU and U.S. regulatory actions pose potential revenue headwinds.

Oct 29, 2025, 8:30 PM

Transcript

Meta reports Q3 2025 earnings

META

Earnings

Guidance Update

New Projects/Investments

Strong growth in engagement with 3.5 billion daily active users and Q3 total revenue of $51.2 billion (+26% y/y).
Family of apps ad revenue reached $50.1 billion (+26% y/y) and Reality Labs revenue was $470 million (+74% y/y).
Q3 operating income was $20.5 billion (40% margin); reported net income was $2.7 billion (EPS of $1.05), or $18.6 billion (EPS of $7.25) excluding a one-time tax charge.
Capital expenditures of $19.4 billion, free cash flow of $10.6 billion, ending cash and marketable securities of $44.4 billion versus $28.8 billion in debt.
Q4 2025 revenue guidance of $56–59 billion; full-year 2025 expense outlook $116–118 billion and CapEx $70–72 billion.

Oct 29, 2025, 8:30 PM

Transcript

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