Meta Reports Third Quarter 2026 Results (investor.atmeta.com)

Meta Platforms, Inc. announced its third-quarter financial results for 2026, highlighting significant strides in its AI initiatives, particularly with the launch of its first frontier model, Muse. CEO Mark Zuckerberg emphasized the company's commitment to achieving personal superintelligence for all and reported a 26% year-over-year revenue increase to $64.6 billion, despite a greater rise in expenses largely due to an $18.59 billion legal settlement. Notably, net income surged by 264% to $9.86 billion, reflecting strong operational efficiency and engagement across its platforms. In a strategic move to bolster its growth amid rapid AI developments, Meta's Board approved the establishment of a new class of non-voting Class C common stock set to take effect in January 2027. This initiative aims to enhance capital-raising opportunities and ensure that Mark Zuckerberg retains a leadership role, prioritizing long-term value creation for shareholders. The new structure is designed to facilitate substantial investments in AI and emerging technologies, positioning Meta as a formidable player in the competitive landscape of AI-driven innovation while maintaining a focus on profitability in its Reality Labs division.