Meta Platforms
METAQ1 2026(META Q4 FY2025)Stated25% AI
AI Revenue %
25%
AI Fair Value
$229.1B
AI Revenue (Q)
$15.0B
Total Revenue (Q)
$59.9B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
No updated AI ad tools run rate was disclosed in Q4 FY2025 earnings call. Using the Q3 FY2025 stated figure of $60B annual run rate as the basis, since management did not update or revise it. $60B / 4 = $15.0B quarterly Ring 1 AI revenue. Q4 total revenue derived from 10-K: full year $200,966M minus first 9 months ($42,314M + $47,516M + $51,242M = $141,072M) = $59,894M. $15.0B / $59.9B = 25.0%. The lower percentage vs Q3 is because Q4 is seasonally Meta's strongest revenue quarter (holiday ad spending) while the AI run rate is annualized. The $60B end-to-end AI ad tools run rate covers Advantage+ shopping, Advantage+ app, Advantage+ leads, and generative AI creative tools — all Ring 1 products that exist because of recent deep learning advances. Reality Labs ($955M derived) is excluded. WhatsApp paid messaging ($2B run rate) is not counted as Ring 1 AI — it is a messaging platform, not an AI-native product.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue for 2025 was $200.97 billion, an increase of 22% compared to 2024, due to an increase in advertising revenue.
Q4 FY2025 10-K MD&A, Executive Overview
Family of Apps Revenue $198,759 million (full year 2025), Reality Labs Revenue $2,207 million (full year 2025)
Q4 FY2025 10-K Segment Data
Q4 total family of apps revenue was $58.9 billion, up 25% year over year.
Q4 FY2025 earnings call, Susan Li
Paid messaging within WhatsApp continues to scale as well, crossing a $2 billion annual run rate in Q4.
Q4 FY2025 earnings call, Susan Li
Confidence Tier
StatedAI figures cited by management on earnings calls