Meta's third-quarter profit surges 35% reflecting strong ad revenue and its AI push

Meta Platforms Inc. has posted stronger-than-expected results for nan 3rd 4th arsenic its advertizing gross continued to grow

Meta Platforms Inc. posted stronger-than-expected results for nan 3rd 4th connected Wednesday arsenic its advertizing gross continued to grow.

For nan 3 months ended connected Sept. 30, nan Menlo Park, California-based institution earned $15.69 billion, aliases $6.03 per share, up 35% from $11.58 billion, aliases $4.39 per share, successful nan aforesaid play a twelvemonth earlier.

Revenue roseate 19% to $40.59 cardinal from $34.15 billion.

Analysts, connected average, were expecting net of $5.22 per stock connected gross of $40.21 billion, according to FactSet Research.

“We had a bully 4th driven by AI advancement crossed our apps and business,” CEO Mark Zuckerberg said successful a statement. “We besides person beardown momentum pinch Meta AI, Llama adoption, and AI-powered glasses.”

For nan existent quarter, Meta is forecasting gross of $45 cardinal to $48 billion. Analysts are expecting $46.18 billion.

But nan Instagram and Facebook genitor institution warned that it expects a “significant acceleration” successful infrastructure spending adjacent year.