Q3 results are in and Meta's sales jumped 26% to $64.6 billion.
Meta showed 10% more ads at 14% higher prices… with 15% fewer employees than a year ago.
In Mark Zuckerberg’s own words
"Our investments are paying off."
Look, very few founders have grown a company to $1 trillion while running it…
In fact, there are only 4
Jeff Bezos did it at Amazon before stepping back in 2021
Then you have Jensen Huang at Nvidia, Elon Musk at SpaceX… and Zuck
Meta is up more than 1,700% since the IPO, against about 495% for the S&P 500.
On a personal level October 27, 2022, I recommended Meta at $99…and it's worth more than six times that today.
I've said it before and I'll keep saying it - Zuckerberg doesn't get enough credit.
The complaint you hear is that all he does is buy things…
Instagram cost $1 billion in 2012... in 2025 alone it made over $30 billion in ad revenue, roughly half of Meta’s US total.
WhatsApp cost $19 billion in 2014, when it had around 400 million monthly users… by May 2025 it had 3 billion and WhatsApp paid messaging and subscription revenue is up 59% YoY.
Not bad for a non-innovator…
Meta is one of my largest positions… and it’ll remain so. And I think there’s a strong argument to be made that the company has the strongest setup even in an AI slowdown.
(You can make the same argument for Google - which I also own… but Google has GCP growth risks)
Plus as an option seller we got a nice boost with a 2-1 stock split coming in January… personally I’d have preferred 5-1 but…
🎵You can’t always get what you want…🎵
Oliver