Meta Platforms in 2025: Llama 4, Meta AI, Scam Ad Backlash and the Big Bet on VR
Meta’s Q3 2025 revenue jumped 26% to $51.24 billion, with operating income at $20.5 billion and a 40% margin. GAAP net income fell 83% to $2.7 billion due to a $15.93 billion tax charge. Reality Labs posted a $4.4 billion loss on $470 million revenue. Meta raised 2025 capex guidance to $70–72 billion, focusing on AI infrastructure.