Meta Platforms Q2 2025 Earnings: Ad Revenue and Profit Jump as AI Spending Ramps Up
Meta's Q2 2025 revenue and profit both grew sharply on strong ad demand, even as the company ramped up AI infrastructure spending.
| Q2 2025 | Reported |
|---|---|
| EPS | $7.14 |
| Revenue | $47.52B |
Figures as reported by the company to the SEC for the quarter ended June 30, 2025. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Revenue rose 22% year-over-year to $47.52 billion, and net income climbed 36% to $18.34 billion, with per-share earnings of $7.14 for the quarter ended June 30, 2025.
- Growth was driven mainly by digital advertising across Facebook, Instagram and Meta’s other apps. The company’s family of apps averaged 3.48 billion daily active users in June, up 6% from a year earlier.
- Profitability stayed strong: over the trailing twelve months, Meta’s operating margin was about 38% and its net profit margin was near 30%, meaning it kept roughly 30 cents of profit for every dollar of revenue even while ramping up spending.
- Even so, trailing-twelve-month earnings per share slipped slightly (down about 3.7%) from a year earlier, a sign that rising costs are starting to show up in the annual numbers even though the latest quarter’s profit jumped.
- Return on equity stood at nearly 30% over the past year, indicating the company continued generating strong profit relative to shareholders’ invested capital.
- Meta guided third-quarter 2025 revenue to a range of $47.5 billion to $50.5 billion and narrowed its full-year expense outlook to $114-118 billion, while pointing to full-year capital spending of roughly $66-72 billion — about $30 billion higher than 2024 — as it builds out AI data centers and computing capacity.
- CEO Mark Zuckerberg described it as a strong quarter for both the business and its community of users, and reiterated the company’s push to build advanced AI systems, underscoring that heavy AI investment remains the company’s central strategic focus.
Q2 2025 in context
| Metric | Jun 2025 | Jun 2024 | Change |
|---|---|---|---|
| Revenue | $47.5B | $39.1B | +21.6% |
| Net income | $18.3B | $13.5B | +36.2% |
| Free cash flow | $9.0B | $11.2B | -19.4% |
| Diluted EPS | $7.14 | $5.16 | +38.4% |
| Gross margin | 82.1% | 81.3% | +0.8 pts |
| Operating margin | 43.0% | 38.0% | +5.0 pts |
| Net margin | 38.6% | 34.5% | +4.1 pts |
Figures for the quarter ended Jun 2025 and the quarter ended Jun 2024, as reported to the SEC.
Each company's quarter ending in calendar Q2 '25, as reported to the SEC. A peer that reported no revenue figure for that quarter is left out.
How the stock took it
Meta Platforms, Inc. closed at $695.21 on Jul 30, 2025, the last session before the report, and at $750.01 on Aug 1, 2025, the first session after it — +7.9% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Sources: company report