Meta’s Almost $10 Billion Legal Costs Take Huge Toll on Q3 Earnings, Wall Street Shrugs
Meta’s $18 billion nationwide settlement with state attorneys general forced nearly $10 billion in additional costs for the company during its third quarter in 2026, missing Wall Street expectations even as its quarterly revenue was up 28%. The company’s revenue for the quarter hit $64.6 billion, up 26%, while its net income was $9.86 billion, […]
Meta reported $64.6 billion in third quarter revenue, which represents a 26% annual increase and surpassed analyst projections of $63.3 billion. Variety reported that the company's revenue was up 28% for the quarter, while TheWrap noted that earnings per share reached $7.40 excluding one-time legal charges, beating the Wall Street forecast of $5.46 per share.
The company's third quarter costs and expenses included a $9.89 billion charge related to an agreement with 52 attorneys general to resolve litigation concerning teen mental health and social media. TheWrap reports this settlement provides for payments of up to approximately $18.59 billion. Additionally, TheWrap stated that a New Mexico judge imposed a $25 billion fee against the company for misleading Facebook users regarding data privacy practices.
Brief written by urgent.news from Variety, TheWrap, The Age, The Sydney Morning Herald — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
