Published • loading... • Updated
Meta Platforms earnings beat by $0.26, revenue topped estimates
Revenue beat estimates as Meta said Muse is already shaping shopping, productivity and smart glasses plans.
- 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.
Insights by Ground AI
Podcasts & Opinions
156 Articles
156 Articles
Meta Q3: Robust Growth In Core Business Combined With Promising New Growth Avenues (META)
This article was written by Follow More than 7 years of experience in equity analysis in LatAm. We provide our clients with in-depth research and insights to help them make informed investment decisions. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate […]
Coverage Details
Total News Sources156
Leaning Left20Leaning Right19Center41Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 25%
C 51%
R 24%
Factuality
To view factuality data please Upgrade to Premium
