Meta Sets Q4 Revenue at $73B to $76B, Projects $15B 2027 Reality Labs Loss

Meta Platforms expects fourth-quarter 2026 revenue of $73 billion to $76 billion and a roughly $15 billion Reality Labs loss in 2027, outlining its next investment priorities as AI takes precedence.

The revenue range assumes foreign exchange will reduce year-over-year growth by about 1% at current rates. For full-year 2026, Meta expects total expenses of $175 billion to $179 billion, including a $9.9 billion legal charge recognized in the third quarter. Its Reality Labs loss outlook for 2026 is $18 billion to $19 billion, above the estimate for 2027.

Meta's third-quarter revenue reached $64.601 billion, up 26% from a year earlier. Costs and expenses climbed 68% to $51.613 billion, including a $9.89 billion legal charge. The company had also raised the lower end of its 2026 capital-spending plan to $135 billion, keeping the upper end at $145 billion, in its third-quarter capital-spending outlook.

Reality Labs, Meta's virtual- and augmented-reality hardware, software and content segment, recorded $443 million in third-quarter revenue and a $4.129 billion operating loss. Its operating loss was $4.432 billion in the third quarter of 2025. For the first nine months of 2026, the segment's operating loss totaled $12.775 billion, compared with $13.171 billion in the same period last year.

Meta said it is still developing its 2027 budget and capacity plans and did not provide a full-year revenue forecast for next year. It expects to keep investing aggressively in its core business and emerging AI initiatives, with investment shifting mainly toward AI.