Meta is slated to report third-quarter earnings Wednesday, and analysts are expecting a return to growth rates above 20%.
The report comes a day after a bipartisan group of 42 attorneys general sued the company over allegations that its products harm the mental well-being of children and teenagers. Investors will be paying close attention to ad numbers after Snap said Tuesday that it"observed pauses in spending" from large advertisers following"the onset of the war in the Middle East."Sign up for NBC LA newsletters.Following a brutal 2022 for Meta, during which year-over-year ad revenue shrank for three consecutive quarters, growth is finally returning. The company is expected to show growth of 21% in the third quarter after sales increased 11% in the prior period.
Meta appears to be the furthest along in terms of improving the effectiveness of its online ad platform following Apple's changes. The company has pointed to its heftylast quarter that the company continues"to see increasing legal and regulatory headwinds in the EU and the U.S. that could significantly impact our business and our financial results.
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