Management remarks
Call period: 2026 Q2 · 2026-07-29
Demand and orders: Mark Zuckerberg: We made Meta business agents available globally this quarter on WhatsApp and Messenger, and there are already more than 1 million businesses using them to talk to their customers or complete sales every week.Margins: Susan Li: Second quarter GAAP operating income was $18.8 billion, representing an 8% decline year-over-year and a 31% operating margin. Excluding the Q2 legal charges and severance expenses, our second quarter operating income would have increased 9% year-over-year.Analyst Q&A
Analyst Brian Nowak asked: There's a lot of opportunities here. My question is, as you look at these opportunities and the state of the current offerings, the compute capacity, which of them do you expect to be able to scale first sort of in '26 and '27 to sort of showcase quantifiable material ROIC for investors? Management Mark Zuckerberg answered: The question in thinking about this is we believe that there will continue to be a significantly higher margin on selling intelligence rather than selling compute directly. But we think that there is a big opportunity, obviously, to sell compute as well. So we're thinking through -- I think you asked what one area would likely scale the most. But I mean I'm actually quite optimistic that we're going to see meaningful growth in all of these areas.管理层陈述
电话会期间：2026 Q2 · 2026-07-29
需求与订单：马克·扎克伯格：本季度我们在WhatsApp和Messenger上全球推出了Meta商务助手，目前已有超过100万家企业每周使用它们与客户沟通或完成销售。利润率：苏珊·李：第二季度GAAP营业收入为188亿美元，同比下降8%，营业利润率为31%。若剔除第二季度的法律费用和遣散费，我们的第二季度营业收入将同比增长9%。分析师问答
分析师布莱恩·诺瓦克提问：马克，着眼于当前的各类机遇以及现有产品、计算能力状况，你认为在2026年和2027年，哪些机遇能够率先实现规模化，从而为投资者带来可量化的实质性投入资本回报率？ 管理方马克·扎克伯格回应：我们认为，销售人工智能服务的利润率将远高于直接销售计算能力。当然，销售计算能力也存在巨大机遇，我们正在全面考量相关问题。我实际上对所有这些领域实现有意义的增长都持相当乐观的态度。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
