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.