Meta (META): FY26 Q3 earnings call, Oct 21, 2026

…engagement on both Facebook and Instagram, driven by strong growth in video. Threads has now overtaken X in monthly actives and continues to grow quickly.…

…put this in perspective, this is more than twice the level that Threads started at, or where we believe that other AI apps started at…

…both globally and in the U.S., with both growing double digits year-over-year. Threads also continued to scale, with time spent per user growing over 20%…

…these models are outperforming our prior production models and are reducing per-unit content processing costs by more than 80% across Instagram, Threads, Facebook, and ads.

…everyone. We had one of our most successful launches ever with the Muse personal agent. We shipped Muse Wonder as our first frontier model, and…

…business, create new things, or anything else that you can dream of. Muse is the product form of this vision. Now, we have the foundational…

…to Muse, we have also seen that engagement per person in Meta AI has more than doubled since April when we started rolling out our…

…for this next phase play to many of Meta's strengths. We need to do three things: scale the product, grow revenue, and optimize compute costs.

…personal agents. My view is that we will be able to build superintelligence through scaling, so we are methodically working our way up the ladder…

…well as improvements we made to add richer watch time signals. On Facebook Feed and Reels, we completed the global launch of a new generative…

…on, our work on personal superintelligence is now also the focus of Reality Labs. Muse is coming to Meta Glasses starting next month, and that…

…5% more conversions at the same cost per conversion and increased their advertising investment by 9% compared with similar non-adopters. We are rolling out additional…

I also shared at Connect that we are changing our approach to virtual reality to only ship new devices when we have major breakthroughs like…

…token costs. The growth in infrastructure costs was driven by higher third-party cloud spend, depreciation, and data center operating costs. We ended Q3 with over…

…today we announced plans to create a new class of non-voting capital stock, which will be distributed to all existing shareholders through a stock dividend.