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 the third quarter as its advertising revenue continued to grow. But the Instagram and Facebook parent company warned that it expects a significant acceleration in infrastructure spending next year. For the three months ended on Sept. 30, the Menlo Park, California, company earned $15.69 billion, or $6.03 per share. That’s up 35% from $11.58 billion, or $4.39 per share, in the same period a year earlier. Revenue rose 19%.
{Categories} _Category: Applications{/Categories}
{URL}https://www.seattlepi.com/business/article/meta-s-third-quarter-profit-surges-35-reflecting-19874895.php{/URL}
{Author}By BARBARA ORTUTAY, AP Technology Writer{/Author}
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{Source}Applications{/Source}
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