Meta Q3 profit jumps but ad market volatility raises concern

Meta’s earnings surged to US$11.6 billion, driven by a 23% increase in ad revenue, reaching US$34 billion compared to the previous year.

Meta had suffered a rough 2022 amid a souring economic climate and Apple’s data privacy changes, which allowed users to block ad targeting, the pillar of Meta’s business. “It’s hard for us to attribute demand softness directly to any specific geopolitical event,” Li said. The states accused Meta of exploiting young users by creating a business model designed to maximise time they spend on the platform despite harm to their health.

“That said, even as tech stocks face uncertainty, Meta’s consistent performance cements its leadership in the digital realm.”

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