Update: Update: Meta Platforms Q3 Earnings, Revenue Rise; Q4 Guidance Set

04:46 AM EDT, 10/22/2026 (MT Newswires) -- (Updates with details of Zuckerberg's founder alignment agreement in paragraphs nine to eleven.) Meta Platforms (META) reported Q3 earnings late Wednesday of $3.83 per diluted share, up from $1.05 a year earlier. Analysts polled by FactSet expected $6.54. Revenue for the three months ended Sept. 30 was $64.60 billion, up from $51.24 billion a year earlier. Analysts expected $63.34 billion. The company expects Q4 revenue of $73 billion to $76 billion. Analysts expect $73.65 billion. The company raised its 2026 total expense forecast to $175 billion to $179 billion to incorporate a $9.9 billion charge related to legal proceedings recognized in Q3. It expects 2026 capital expenditures of $135 billion to $145 billion, compared with $130 billion to $145 billion earlier. The company said its board approved the establishment of a new class of publicly listed, non-voting Class C common stock, effective date in January 2027. The social media giant also entered into an agreement with its founder, Mark Zuckerberg, to keep him living in California, homebase of the company, for eight years amid concerns over a wealth tax proposal in the state, according to a filing on Wednesday. Under the Founder Alignment Agreement, Zuckerberg can sell 20% of the newly created Class C common stock he receives without a corresponding reduction in his voting power, the filing showed. The remaining 80% of the Class C shares will be subject to sale and transfer restrictions, it added.