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

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The company saw its net income soar by 35 percent compared to a year ago.

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.

 

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