Social network operator Meta Platforms (NASDAQ: META) will be reporting earnings this Wednesday afternoon. Here’s what investors should know.

Meta beat analysts’ revenue expectations by 3.4% last quarter, reporting revenues of $51.24 billion, up 26.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ revenue estimates. It reported 3.54 billion daily active users, up 7.6% year on year.

Is Meta a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Meta’s revenue to grow 20.8% year on year to $58.44 billion, in line with the 20.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $8.20 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Meta has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.5% on average.

Looking at Meta’s peers in the consumer internet segment, only Netflix has reported results so far. It beat analysts’ revenue estimates by 0.7%, delivering year-on-year sales growth of 17.6%. The stock was down 2.2% on the results.

Questions about potential tariffs and corporate tax changes have caused much volatility in 2025. While some of the consumer internet stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.5% on average over the last month. Meta is up 2.2% during the same time and is heading into earnings with an average analyst price target of $832.78 (compared to the current share price of $673.33).

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