Meta Platforms Exceeds Quarterly Expectations
Meta Platforms, previously known as Facebook, reported better-than-expected profit and revenue for the third quarter. The company saw an increase in digital advertising and cost savings, leading to its best operating margins in two years.
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Meta’s Recent Performance and Future Plans
Shares of Meta have soared this year, with a 3% gain in after-hours trading. The company has recovered from difficulties in 2022 and aims to invest in artificial intelligence (AI) in the coming years.
CEO Mark Zuckerberg expressed optimism about Meta’s long-term initiatives. He highlighted the company’s focus on efficiency in a volatile world while increasing investment in AI.
Resilient Advertising and Revenue Growth
Advertisers have returned to Meta’s platforms, which contributed to a 23% revenue increase in the third quarter. The company experienced growth in ad impressions and daily active users across its apps.
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Sources: https://www.theverge.com/, https://www.cnn.com/, https://www.businessinsider.com/
### News source: economictimes.indiatimes.com