Meta Crushes Wall Street Earnings Estimates As It Ramps Up AI Spending

Platforms Inc., the owner of Facebook, Instagram and WhatsApp, handily beat Wall Street estimates in its third-quarter earnings, delivering revenue of $40.6 billion, net income of $15.7 billion and earnings per share of $6.03, all up substantially from 2023.

The company also warned that regulatory efforts in the U.S. and E.U. “could significantly impact our business and our financial results.” “We had a good quarter driven by AI progress across our apps and business,” said Mark Zuckerberg, Meta founder and CEO. “We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses.”Erin Lassner. We use vendors that may also process your information to help provide our services.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Breitbart Business Digest: Wall Street Sides with Harris, Main Street Sides with TrumpSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Wells Fargo shares jump after earnings top Wall Street expectationsThe San Francisco-based lender posted $11.69 billion in net interest income, a 11% decrease from the same quarter last year.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »