{
  "company": "Meta",
  "quarter": "Q3 2025",
  "presentation_type": "Earnings Presentation",
  "website": "investor.atmeta.com",
  
  "advertising_revenue_by_geography": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "us_canada": [14956, 17784, 15451, 16593, 17389, 20982, 18259, 20045, 21331],
    "europe": [7721, 9159, 8327, 9135, 9358, 11154, 9527, 11366, 12072],
    "asia_pacific": [6829, 7316, 7338, 7721, 8050, 9012, 8224, 9148, 10020],
    "rest_of_world": [4137, 4447, 4519, 4880, 5088, 5635, 5382, 6004, 6659],
    "total": [33643, 38706, 35635, 38329, 39885, 46783, 41392, 46563, 50082],
    "unit": "millions"
  },
  
  "total_revenue_by_geography": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "us_canada": [15190, 18585, 15824, 16847, 17609, 21783, 18605, 20371, 21751],
    "europe": [7777, 9441, 8483, 9300, 9492, 11503, 9680, 11532, 12268],
    "asia_pacific": [6928, 7512, 7481, 7888, 8220, 9245, 8439, 9366, 10272],
    "rest_of_world": [4251, 4573, 4667, 5036, 5268, 5854, 5590, 6247, 6951],
    "total": [34146, 40111, 36455, 39071, 40589, 48385, 42314, 47516, 51242],
    "unit": "millions"
  },
  
  "segment_results": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "family_of_apps": {
      "advertising": [33643, 38706, 35635, 38329, 39885, 46783, 41392, 46563, 50082],
      "other": [293, 334, 380, 389, 434, 519, 510, 583, 690],
      "revenue": [33936, 39040, 36015, 38718, 40319, 47302, 41902, 47146, 50772],
      "operating_income": [17490, 21030, 17664, 19335, 21778, 28332, 21765, 24971, 24967]
    },
    "reality_labs": {
      "revenue": [210, 1071, 440, 353, 270, 1083, 412, 370, 470],
      "operating_loss": [-3742, -4646, -3846, -4488, -4428, -4967, -4210, -4530, -4432]
    },
    "total": {
      "revenue": [34146, 40111, 36455, 39071, 40589, 48385, 42314, 47516, 51242],
      "income_from_operations": [13748, 16384, 13818, 14847, 17350, 23365, 17555, 20441, 20535],
      "operating_margin_percent": [40, 41, 38, 38, 43, 48, 41, 43, 40]
    },
    "unit": "millions"
  },
  
  "expenses_as_percentage_of_revenue": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "cost_of_revenue": [18, 19, 18, 19, 18, 18, 18, 18, 18],
    "research_and_development": [27, 26, 27, 27, 28, 25, 29, 27, 30],
    "marketing_and_sales": [8, 8, 7, 7, 7, 7, 7, 6, 6],
    "general_and_administrative": [6, 6, 9, 9, 5, 2, 5, 6, 7],
    "unit": "percent"
  },
  
  "tax_information": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "income_before_provision_for_taxes": [14020, 16808, 14183, 15106, 17822, 23553, 18382, 20534, 21663],
    "provision_for_income_taxes": [2437, 2791, 1814, 1641, 2134, 2715, 1738, 2197, 18954],
    "effective_tax_rate_percent": [17, 17, 13, 11, 12, 12, 9, 11, 87],
    "unit": "millions",
    "notes": {
      "q3_2025": "Provision includes one-time $15.93B tax charge related to One Big Beautiful Bill Act. Excluding charge, Q3 2025 effective tax rate would be 14%"
    }
  },
  
  "net_income": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "values": [11583, 14017, 12369, 13465, 15688, 20838, 16644, 18337, 2709],
    "unit": "millions",
    "notes": {
      "q3_2025": "Includes one-time $15.93B tax charge. Excluding charge, Q3 2025 net income would be $18.64B"
    }
  },
  
  "diluted_earnings_per_share": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "values": [4.39, 5.33, 4.71, 5.16, 6.03, 8.02, 6.43, 7.14, 1.05],
    "notes": {
      "q3_2025": "Includes tax charge impact. Excluding charge, Q3 2025 diluted EPS would be $7.25"
    }
  },
  
  "capital_expenditures": {
    "q3_2024": {
      "quarterly": 9202,
      "ytd": 24389
    },
    "q3_2025": {
      "quarterly": 19374,
      "ytd": 50078
    },
    "unit": "millions",
    "note": "Purchases of property/equipment and principal payments on finance leases"
  },
  
  "family_daily_active_people": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "values": [3.14, 3.19, 3.24, 3.27, 3.29, 3.35, 3.43, 3.48, 3.54],
    "unit": "billions"
  },
  
  "family_average_revenue_per_person": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "values": [10.42, 10.93, 11.20, 11.89, 12.29, 12.33, 12.36, 13.65, 14.46],
    "unit": "dollars"
  },
  
  "ad_impressions_yoy_change": {
    "quarters": ["Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "worldwide": [10, 9, 9, 7, 14],
    "us_canada": [5, 5, 5, 6, 11],
    "europe": [6, 7, 9, 8, 7],
    "asia_pacific": [9, 10, 9, 16, 23],
    "rest_of_world": [15, 16, 9, 1, 3],
    "unit": "percent"
  },
  
  "average_price_per_ad_yoy_change": {
    "quarters": ["Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "worldwide": [9, 14, 11, 10, 20],
    "us_canada": [16, 9, 16, 17, 9],
    "europe": [9, 12, 14, 10, 19],
    "asia_pacific": [2, 3, 12, 8, 1],
    "rest_of_world": [17, 23, 17, 4, 15],
    "unit": "percent"
  },
  
  "free_cash_flow_reconciliation": {
    "quarters": ["Q3'23", "Q4'23", "Q1'24", "Q2'24", "Q3'24", "Q4'24", "Q1'25", "Q2'25", "Q3'25"],
    "net_cash_from_operations": [20402, 19404, 19246, 19370, 24724, 27988, 24026, 25561, 29999],
    "purchases_of_property_equipment": [6496, 7592, 6400, 8173, 8258, 14425, 12941, 16538, 18829],
    "principal_payments_finance_leases": [267, 307, 315, 299, 944, 411, 751, 474, 545],
    "free_cash_flow": [13639, 11505, 12531, 10898, 15522, 13152, 10334, 8549, 10625],
    "unit": "millions"
  },
  
  "key_definitions": {
    "family_of_apps": "Facebook, Instagram, Messenger, WhatsApp, and other services",
    "reality_labs": "Virtual, augmented, and mixed reality related consumer hardware, software, and content",
    "dap": "Daily active person - registered and logged-in user who visited at least one Family product on a given day",
    "arpp": "FoA revenue during a quarter divided by average DAP at beginning and end of quarter",
    "violating_accounts": "Accounts for purposes violating terms of service. Estimated <3% of worldwide DAP in Q4 2024"
  }
}