Meta Platforms earnings beat by $0.26, revenue topped estimates
Strong ad growth and AI-driven engagement lifted revenue, while $9.89 billion in legal charges cut into quarterly profit, the company said.
- Meta reported $64.6 billion in third quarter revenue, up 26% annually, beating Wall Street's $63.3 billion projection with $7.40 earnings per share exceeding the $5.46 forecast.
- Third quarter costs include a $9.89 billion charge from an August 2026 agreement with 52 attorneys general to resolve teen mental health litigation, totaling approximately $18.59 billion in payments.
- Meta CEO Mark Zuckerberg announced 3.6 billion people use the company's apps daily, with Instagram reaching 2 billion daily active users, Facebook surpassing 2 billion, and Threads crossing 500 million monthly active users.
- New Mexico Judge Francis J. Mathew imposed a $25 billion penalty against Meta for misleading users about data privacy, finding the company committed nearly 44 million violations of state consumer protection laws.
- Meta narrowed capital expenditure ranges to $135-140 billion with increased AI spending, which the company said is delivering "substantial incremental advertising revenue" through stronger engagements and targeted recommendations.
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The social media giant Meta reported on Wednesday a quarterly turnover above expectations, but a profit amputated by nearly $10 billion related to the agreement that closed its historic trial in August on adolescent mental health.
In the third quarter, Facebook's parent company, Instagram and WhatsApp had a turnover of $64.6 billion, up 26% over a year, thanks to advertising. Without a legal charge, its operating profit would have reached almost $23 billion and exceeded expectations. Meta projected between $73 billion and $76 billion in revenue in the fourth quarter and raised the bottom of its investment range by 2026, now from $135 billion to $145 billion, to keep pace …
Meta says it would’ve made over $22 billion if it didn’t have to pay a child safety settlement
Meta had to shell out $9.89 billion to pay for a chunk of the child safety settlement it reached with US attorneys general. That's according to the company's third-quarter earnings report released on Wednesday, which says Meta's income from operations would have been $22.89 billion without the settlement. In August, Meta agreed to pay $17.1 […]
Meta Tops Q3 Revenue Estimates, But Earnings Hit By Teen Lawsuit Settlement; Stock Split Creates Class C Shares
Meta's third-quarter revenue beat Wall Street expectations, but the company's settlement of a lawsuit filed by teenage social media users squeezed earnings.
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