Meta Platforms earnings beat by $0.26, revenue topped estimates
The company said ad revenue rose 26% as a $9.89 billion legal charge cut quarterly profit and masked stronger-than-expected earnings.
- On Wednesday, Meta Platforms reported third-quarter earnings as CEO Mark Zuckerberg announced that Muse, the company's artificial intelligence agent launched in August, has surpassed more than 10 million users.
- Zuckerberg said Muse has achieved "product-market fit," with shopping emerging as the most common use case and users averaging purchases of over $200 through the app.
- Revenue grew 26% to $64.60 billion during the July-September period, while Meta reported net income of $9.86 billion, reflecting strong quarterly performance despite legal settlement charges.
- Earlier on Wednesday, a New Mexico judge ordered Meta to pay $25 billion for misleading users about data handling and failing to prevent misinformation on Facebook.
- Meta expects to improve Muse's cost efficiency by more than 10x next year, positioning the agent to reach profitability once revenue lines scale.
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Meta beats expectations but legal penalties hit profit
Meta beat investor expectations for third-quarter revenue on Wednesday as it doubles down on a global AI race but the social media giant's profits took a hit due to an US$18 billion legal settlement with nearly all US states. The company reported US$9.86 billion in profits from July to September, almost 50 percent below investor expectations, which Meta said was dragged down by a US$9.9 billion charge related to the settlement. Meta reported its…
Meta Platforms Q3 Earnings Call Highlights
Meta Platforms (NASDAQ:META) reported third-quarter 2026 revenue growth of 26% as advertising demand, engagement gains and AI-driven improvements across its apps supported results, while expenses rose sharply due to a nearly $10 billion legal charge and continued infrastructure investment. Chief Ex
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