Meta Faces $2.4B Legal Costs Amid Strong Revenue Growth

WHO:

Techmeme - Meta, the parent company of Facebook and Instagram, led by Mark Zuckerberg.

WHAT:

Techmeme - Meta reported $2.4 billion in charges related to legal proceedings in the second quarter of 2026.

Variety - Meta incurred $1.18 billion in severance expenses due to the layoff of about 8,000 staff.

Variety - Meta's revenue increased by 28% to over $60 billion.

WHEN:

Techmeme - The layoff of about 8,000 staff occurred in May 2026.

(UPDATED July 29, 2026 21:22 UTC)

Meta, the parent company of Facebook and Instagram led by Mark Zuckerberg, reported $2.4 billion in charges related to legal proceedings for the second quarter of 2026. The company also incurred $1.18 billion in severance expenses after laying off about 8,000 staff in May 2026, but despite these costs, Meta's revenue saw a significant increase of 28%, surpassing $60 billion.