META · 10-K · 2025A · Full report
Revenue Performance and Mix
Meta Platforms, Inc. · 2026-01-29 · Importance 65 · Surprise 48
Total revenue grew 22% to $200.97 billion in 2025 driven primarily by advertising. Ad impressions across the Family of Apps increased 12% year‑over‑year and average price per ad increased 9%, both contributing to a $35.54 billion increase in advertising revenue. Management attributes demand gains to improved ad targeting and measurement, as well as strength in the online commerce vertical. They state they expect future advertising revenue to be driven by a combination of price and ad impressions delivered.
Key facts
- Total revenue for 2025 was $200,966 million, an increase of 22% compared to 2024.
- Advertising revenue in 2025 was $196,175 million, an increase of 22% compared to 2024.
- Net income for 2025 was $60,458 million with diluted earnings per share of $23.49.
- Family of Apps (FoA) revenue for 2025 was $198,759 million.
- FoA other revenue in 2025 was $2,584 million, an increase of $862 million, or 50%, compared to 2024.
- Revenue is seasonally strong in the fourth quarter; total revenue increased 17%, 19%, and 17% between the third and fourth quarters of 2025, 2024, and 2023, respectively.
- Reality Labs (RL) revenue for 2025 was $2,207 million.
- Ad impressions delivered across our Family of Apps increased 12% year-over-year in 2025.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +18.0% | Total revenue for 2025 was $200,966 million, an increase of 22% compared to 2024. |
| revenue | positive | realized | +17.6% | Advertising revenue in 2025 was $196,175 million, an increase of 22% compared to 2024. |
| revenue | positive | realized | +0.4% | FoA other revenue in 2025 was $2,584 million, an increase of $862 million, or 50%, compared to 2024. |
| revenue | positive | realized | +0.0% | RL revenue in 2025 increased $61 million, or 3%, compared to 2024. |
| net_income | positive | realized | — | Net income for 2025 was $60,458 million with diluted earnings per share of $23.49. |
| revenue | positive | realized | — | Revenue is seasonally strong in the fourth quarter; total revenue increased 17%, 19%, and 17% between the third and fourth quarters of… |
| revenue | positive | realized | — | Reality Labs (RL) revenue for 2025 was $2,207 million. |
| revenue | positive | realized | — | Ad impressions delivered across our Family of Apps increased 12% year-over-year in 2025. |
| revenue | positive | realized | — | Average price per ad increased 9% year-over-year in 2025. |
| revenue | negative | realized | — | Total revenue for the first quarter declined 13% in 2025, 9% in 2024, and 11% in 2023 compared to the prior fourth quarters. |