Recent Updates — META

Meta Platforms issued 250 million depositary shares, each representing a 1/20th interest in Series A Mandatory Convertible Preferred Stock with a $1,000 liquidation preference and a 6.50% annual dividend rate. The offering closed on October 29, 2026, with mandatory conversion into Class A common stock scheduled for August 2029 based on average volume-weighted average price. Concurrently, the company entered forward sale agreements to sell 40 million shares of Class A common stock through Morgan Stanley and Goldman Sachs at an initial price of $622.91875 per share, with settlement occurring on or before November 19, 2027. The firm operates in the technology sector, providing social media platforms and digital advertising services.

Meta Platforms approved a recapitalization creating a new class of publicly listed, non-voting Class C common stock and declared a one-time stock dividend of one share of Class C for each outstanding share of Class A and Class B common stock. The amendment to the certificate of incorporation was approved by shareholders via written consent on October 20, 2026, with an effective date of January 19, 2027. Meta also entered into a Founder Alignment Agreement with CEO Mark Zuckerberg that restricts sales of the new Class C shares unless accompanied by a corresponding reduction in his voting power through the sale or conversion of Class A or B shares. The company reported third-quarter revenue of $64.6 billion and net income of $9.86 billion, including a $9.89 billion litigation charge. Meta operates in the technology industry, building social media platforms and artificial intelligence infrastructure.

Meta Platforms reported second quarter 2026 financial results with revenue of $60.8 billion, a 28% increase year-over-year, driven by a 14% rise in ad impressions and a 12% increase in average ad price. Diluted earnings per share were $6.18, down 13% from the prior year period, as operating income declined 8% to $18.8 billion due to a 55% surge in costs and expenses totaling $42.0 billion. This expense increase included $2.4 billion in legal charges and $1.18 billion in severance related to headcount reductions initiated in May 2026. The company returned $1.35 billion through dividends and dividend equivalents, while capital expenditures reached $31.1 billion. Meta raised its full-year 2026 expense outlook to $165-169 billion and provided third-quarter revenue guidance of $61-64 billion. Meta Platforms operates in the technology industry, developing social media platforms and immersive technologies.