Meta Reports $64.6B Q3 Revenue, Creates Class C Stock for AI Push

Meta Platforms reported third-quarter 2026 revenue of $64.6 billion, a 26% year-over-year increase, while daily active people across its app family grew 3% to 3.64 billion. Operating income fell 37% to $12.99 billion, driven entirely by a $9.89 billion charge to resolve litigation with 52 state attorneys general over teen mental health and social media. The company announced the creation of a new non-voting Class C common stock, to be issued as a one-time stock dividend in January 2027, which will effectively act as a two-for-one stock split. Meta executives stated the new capital structure is designed to fund massive AI infrastructure investments and potential acquisitions while ensuring founder Mark Zuckerberg maintains long-term control. For 2027, the company expects its Reality Labs division losses to narrow to approximately $15 billion as it reallocates resources toward artificial intelligence initiatives. "We hit major milestones this quarter toward delivering personal superintelligence for everyone - including launching Muse and Muse Wonder, our first frontier model," said Mark Zuckerberg, Meta founder and CEO.