California, July 30 -- Meta Platforms reported a 28 per cent year-on-year increase in revenue for the second quarter of 2026, while its net income declined 14 per cent as higher costs and expenses weighed on profitability, as per the company's financial statement.

The company posted revenue of USD 60.80 billion for the quarter ended June 30, 2026, compared with USD 47.52 billion a year earlier. Net income stood at USD 15.85 billion, down from USD 18.34 billion in the corresponding quarter last year.

Meta said, "Revenue was USD 60.80 billion, an increase of 28 per cent year-over-year. Revenue on a constant currency basis would have increased by 27% year-over-year".

Costs and expenses surged 55 per cent year-on-year to USD 42.03 billion,...