GoKawiilMark Zuckerberg, chief executive officer of Meta Platforms Inc., wears a pair of Meta Oakley Vanguard AI glasses during the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 17, 2025.
Meta shares fell about 7% in extended trading on Wednesday after the company reported lower-than-expected capital expenditures, or capex, and missed on user growth.
Meta attributed its quarter-over-quarter drop in users in part to "internet disruptions in Iran."
Here's how the company did, compared with estimates from analysts polled by LSEG:
Earnings per share : $7.31 adjusted vs. $6.79 estimated
: $7.31 adjusted vs. $6.79 estimated Revenue: $56.31 billion vs. $55.45 billion estimated
Revenue climbed 33% from $42.3 billion a year earlier, marking the fastest quarter for growth since 2021. The jump reflects Meta CEO Mark Zuckerberg's focus on artificial intelligence investments, which have yet to produce new revenue streams but have strengthened the company's core advertising business.
Zuckerberg has spent the past three months continuing his company's deeper push into AI following a strategy shift and talent overhaul that he initiated in June with the $14.3 billion investment in Scale AI and the hiring of CEO Alexandr Wang.
The company reported first-quarter daily active people, or DAP, of 3.56 billion, a 4% increase from the previous year but a more than 5% drop from the fourth quarter. Wall Street was projecting that DAP would come in at 3.62 billion.
Meta said in the war in Iran and "a restriction on access to WhatsApp in Russia" were to blame. Meta and three other hyperscalers — Alphabet , Amazon and Microsoft — all reported results on Wednesday, updating investors for the first time since the U.S. began combat operations in Iran in late February.
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