The analysis discusses Meta's Q3 2025 financial results, noting a revenue increase of 26% to $51.2 billion. Despite this, the stock price fell due to increased costs, resulting in a decreased operating profit margin from 43% to 40%. A one-time, non-cash income tax charge of $15.93 billion impacted net income. The analysis highlights that Meta's daily active people increased by 8% year-over-year, reaching 3.54 billion, and ad impressions increased by 14% year-over-year. It sets expectations for strong ad revenue growth, offset by Reality Labs revenue decline. Expects 2025 total revenue to be in the range of $56-59 billion but full year expenses to increase to $116-$118 billion. Capital expenditure expectations also increased and tax rates are around 12 to 15%. It maintains a buy rating for Meta, based on intrinsic value of $856.68 versus the current market price of $674.23.