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Meta Posts $4B Reality Labs Loss, Boosts 2026 Capex

4/30/2026

Summary

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Meta Platforms reported a Q1 2026 operating loss of $4.03 billion for Reality Labs, with $402 million in sales.
The company posted Q1 net income of $26.8 billion and revenue of $56.3 billion.
Meta projected 2026 capital expenditures of $125 billion to $145 billion, above analysts’ expectations.
Shares fell more than 5% in after-hours trading as CFO Susan Li said Meta will not give a 2027 capex outlook, noting repeated underestimation of compute needs.

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Story summary

Meta Platforms reported a Q1 2026 operating loss of $4.03 billion for Reality Labs, with $402 million in sales.
The company posted Q1 net income of $26.8 billion and revenue of $56.3 billion.
Meta projected 2026 capital expenditures of $125 billion to $145 billion, above analysts’ expectations.
Shares fell more than 5% in after-hours trading as CFO Susan Li said Meta will not give a 2027 capex outlook, noting repeated underestimation of compute needs.