
ALT Line chart of Meta's quarterly capex, measured as purchases of property and equipment, and its operating cash flow from the first quarter of 2012 through the third quarter of 2026, in billions of dollars. Operating cash flow stays above capex from the third quarter of 2012 onward. After 2012, the two lines come closest in the third quarter of 2022, at $9.38 billion of capex against $9.69 billion of operating cash flow. Capex then jumps to $30.12 billion in the second quarter of 2026 and $33.94 billion in the third quarter, topping operating cash flow of $32.79 billion. The last time capex was higher was the second quarter of 2012, at $413 million against $242 million.

ALT Column chart of Meta's quarterly operating cash flow and capital spending, in billions of dollars, from the fourth quarter of 2023 through the third quarter of 2026. In the third quarter of 2026, capital spending of $33.94 billion topped operating cash flow of $32.79 billion, the first time since 2012.














