What move does the options market price into Meta Platforms's report?

Implied ±15.4%, either direction · provisional.

How often does Meta Platforms move more than the options market prices?

6 of the last 8 reports moved at least as far as the implied move.

METANasdaqServices-Computer Programming, Data Processing, Etc.

Meta Platforms, Inc. (META) earnings date, market-implied expected move, and options open interest by expiry

615.00

−9.52 · −1.52%

post 614.21 −0.13%

Closed19:59 ET

Open614.55Volume25.4MMkt cap$1.6TP/E20.69EPS29.69Div yield0.34%

Day610.86 – 623.5726%52-wk519.37 – 779.8236%

Implied vs realized

8 reports

6 of 8≥ implied

avg implied: ±6.1%
avg realized: ±7.8%

Jan 29 '25Jan 29 '25confirmed±6.3%▲+1.55%×0.24

Apr 30 '25Apr 30 '25confirmed±6.3%▲+4.23%×0.67

Jul 30 '25Jul 30 '25confirmed±5.1%▲+11.25%×2.20

Oct 29 '25Oct 29 '25confirmed±5.8%▼−11.33%×1.97

Jan 28 '26Jan 28 '26confirmed±6.0%▲+10.40%×1.74

Q1 FY26Apr 29 '26confirmed±6.4%▼−8.55%×1.33

Q2 FY26Jul 29 '26confirmed±7.3%▼−7.95%×1.09

Q3 FY26Oct 21 '26confirmed±6.0%▼−6.98%×1.16

quarterimplied−15%0+15%realized×

Q3 FY26±6.0%▼−6.98%×1.16

Q2 FY26±7.3%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 15 expiries · Oct 30 close

0.69OI · 15 expiries · Oct 30 closeP/C open interest · Feb 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

10 nearer expiries

9,655+25%

Positioning

Linked exposure

scenario · straddle±15.4%

Funds 4

XLC±3.1%

IGPT±1.4%

VUG±0.5%

GLO±0.4%

Suppliers 1

OKLO±11.3%×0.73

Dashed = straddle · × = co-movement · max 501dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

15.26%as filednet margin · revenue +6.25% QoQ · +26.07% YoY

Revenue

$64.6B+6.25% QoQ

Gross profit

$51.2B+3.56% QoQ

79.31% margin

Operating income

$13.0B−30.82% QoQ

20.10% margin

Pre-tax income

$13.0B−30.68% QoQ

Net income

$9.9B−37.78% QoQ

15.26% margin

Cost of revenue

$13.4B+18.00% QoQ

Operating expenses

$38.2B+24.59% QoQ

R&D $20.1B

SG&A $14.9B

Marketing $3.3B

Tax

$3.1B+8.01% QoQ

Other income

$13M+168.42% QoQ

Revenue$64.6B+6.25%

Gross profit

$51.2B+3.56%

79.31% margin

Operating income

$13.0B−30.82%

20.10% margin

Pre-tax income

$13.0B−30.68%

Net income

$9.9B−37.78%

15.26% margin

Cost of revenue

$13.4B+18.00%

Operating expenses

$38.2B+24.59%

R&D $20.1B

SG&A $14.9B

Marketing $3.3B

Other income$13M+168.42%

Tax$3.1B+8.01%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Sep 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 19:45 ET

Intraday

Event sensitivity

PCE ×1.85· ±3.0% vs ±1.6% · 19 releases

eventrelease day|move|up · n×base

PCEpersonal income & outlays±3.0%10 of 19×1.85

GDPgross domestic product±2.4%9 of 19×1.47

PPIproducer prices±2.0%4 of 11×1.25

NFPjobs report±1.8%5 of 10×1.14

CPROFcorporate profits±1.7%8 of 12×1.05

CPIconsumer prices±1.5%6 of 11×0.94

FOMCrate decision±1.4%13 of 25×0.87

Bar = avg |move| to ±4% · tick = ±1.6% avg day · ×base = |move| ÷ ±1.6% · min 6 releases

Earnings history

EPS 3.83 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 21 '26 · confirmed	3.83	—
Q2 FY26	Jul 29 '26 · confirmed	6.18	—
Q1 FY26	Apr 29 '26 · confirmed	10.44	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod