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.
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