Meta Platforms earnings beat by $0.26, revenue topped estimates
- 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.
48 Articles
48 Articles
Meta Q3 revenue tops estimates and Zuckerberg says Muse accounts have
Meta Platforms said Wednesday that its third-quarter profit jumped more than threefold, as revenue climbed sharply. The parent company of Facebook and Instagram reported net income of $9.86 billion, or $3.83 per share, for the July-September period.
Meta Q3 revenue tops estimates and Zuckerberg says Muse accounts have topped 10 million – WTOP News
Meta Platforms said Wednesday that its third-quarter profit jumped more than threefold, as revenue climbed sharply. The parent company of Facebook and Instagram reported net income of $9.86 billion, or $3.83 per share, for the July-September period. That’s up from a profit of $2.71 billion, or $1.05 per share, in the same period a year...
A few hours after a court imposes a billion-dollar sentence on Meta, the Facebook Group discloses its quarterly figures, which look surprisingly good, but only in terms of sales.
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.
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