Meta Platforms, Inc. stock research
FY2026 Q1
Meta Platforms (META) Gross Margin — Quarter Ended Mar 31, 2026
Revenue and gross profit decreased from the prior quarter but increased compared to the same quarter last year, while cost of revenue followed a similar pattern. The resulting gross margin improved slightly from the preceding quarter but weakened modestly from the year-ago period.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue and gross profit decreased from the prior quarter but increased compared to the same quarter last year, while cost of revenue followed a similar pattern. The resulting gross margin improved slightly from the preceding quarter but weakened modestly from the year-ago period.
- The quarter-over-quarter improvement in gross margin was associated with a larger proportional decline in cost of revenue relative to the decline in revenue.
- Compared to the prior quarter, gross margin was higher; compared to the same quarter a year ago, gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
81.9%
Gross profit
$46.1B
Revenue
$56.3B
Cost of revenue
$10.2B
Quarter-over-quarter change
+0.1 pts
Year-over-year change
-0.3 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $47.5B | $39.0B | $8.5B | 82.1% |
| Sep 30, 2025 | $51.2B | $42.0B | $9.2B | 82.0% |
| Dec 31, 2025 | $59.9B | $49.0B | $10.9B | 81.8% |
| Mar 31, 2026 | $56.3B | $46.1B | $10.2B | 81.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+0.1 pts
Year-over-year change
Mar 31, 2025
-0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The quarter-over-quarter improvement in gross margin was associated with a larger proportional decline in cost of revenue relative to the decline in revenue.
Compared to the prior quarter, gross margin was higher; compared to the same quarter a year ago, gross margin was lower.
Monitor capital expenditure trends as disclosed in the filing, which may influence future cost of revenue dynamics.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Meta Platforms, Inc. (META) | 81.9% |
| Alphabet Inc. (GOOGL) | 62.4% |
| Snap Inc. (SNAP) | 56.5% |