Date: April 29, 2026 | Source: Motley Fool (fool.com) / company press release
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Mark Zuckerberg (Founder & CEO): Good afternoon, and thanks for joining us today. The field is moving pretty quickly, and that is basically the main thing that we have learned over the last quarter: we started this pretty big bet, and it is on track for our plan. On that note, we are increasing our infrastructure CapEx forecast for this year.
Susan Li (CFO): Thanks, Mark, and good afternoon, everyone. Q1 total family of apps revenue was $55.9 billion, up 33% year over year. Q1 family of apps ad revenue was $55.0 billion, up 33%, or 29% on a constant currency basis. Within our Reality Labs segment, Q1 revenue was $402 million, down 2% year over year due to lower Quest headset sales, which were partially offset by continued strong growth in AI glasses revenue. Q1 total revenue was $56.3 billion, up 33%, or 29% on a constant currency basis. First quarter operating income was $22.9 billion, representing a 41% operating margin.
Turning to the second driver of our revenue performance, increasing monetization efficiency. Next, I would like to discuss our approach to capital allocation. Turning to the expense and CapEx outlooks, we are increasing our infrastructure CapEx forecast for this year to between $125 billion and $145 billion, up from our prior range of $115 billion to $135 billion.
Susan Li (on 2027 capex): We are not providing a specific outlook for 2027 CapEx, and we are frankly undergoing a very dynamic planning process ourselves as we are working through what our capacity needs will be over the coming years.
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