) reported better-than-expected third-quarter earnings and revenue on Thursday, driven by strong growth in ad impressions and pricing. Jefferies analyst Brian Thill said the company delivered a revenue beat despite"high expectations."
The social media giant posted adjusted earnings per share of $6.03, surpassing analyst estimates of $5.21. Revenue for the quarter came in at $40.59 billion, up 19% YoY and above the consensus estimate of $40.18 billion. "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."
The company's family daily active people metric reached 3.29 billion on average for September 2024, representing a 5% increase YoY. Meta also reported strong free cash flow of $15.52 billion for the quarter.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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.
Source: Investingcom - 🏆 450. / 53 Read more »