Meta Q3 Earnings Preview: What To Expect From Upcoming Report

Meta META is headed into a key earnings date that could steer sentiment across Big Tech. The company will report third-quarter results after the market close on Oct. 29.

Shares have climbed about 28% so far in 2025, driven by stronger ad demand and growing AI-driven engagement.

Analysts expect roughly 22% year-over-year revenue growth for the quarter, near $49.5 billion, and consensus adjusted EPS of about $6.67.

That follows a stronger-than-expected Q2 when Meta posted about $47.5 billion in revenue and solid profit metrics, which lifted investor confidence.

Management's guidance for Q3 revenue between $47.5 billion and $50.5 billion, plus narrower full-year expense guidance of $114 billion to $118 billion, has set elevated expectations.

Investors will watch ad trends closely, where consensus forecasts ad revenue growth near 21.6% year over year, and monitor whether AI improvements are sustaining user engagement across Facebook, Instagram, WhatsApp and Threads.

Risks include the heavy losses at Reality Labs and rising infrastructure spending, capex is planned near $66 billion to $72 billion for 2025, which could weigh on margins.

A modest miss or cautious outlook may prompt a rethink; a beat could reinforce the recent rally.