Meta reported third-quarter earnings on October 21, 2026, guiding fourth-quarter revenue to $73 billion to $76 billion, above estimates, on record quarterly revenue of $64.2 billion. It set a non-voting Class C stock effective January 2027, one share per A or B share, and sees 2026 Reality Labs losses of $18 billion to $19 billion. Data center lease and contract commitments reached about $825 billion, with $355.7 billion off balance sheet through 2036. A New Mexico judge ordered $25 billion over data privacy deception, and shareholders sued Meta and Zuckerberg over the tax rationale for the split. The first $25 billion equity tranche closed five times oversubscribed, with AMD, Nvidia and Broadcom in for about $5 billion.