Meta beats on top and bottom line as digital ad recovery pushes revenue up 23%

CNBC October 25, 2023
Jonathan Vanian

Key Points

– Meta reported better-than-expected results for the third quarter as revenue increased 23%, the fastest rate of growth since 2021.

– For the fourth quarter, Meta said it expects revenue of $36.5 billion to $40 billion.

– Net income rose 164% from a year earlier to $11.58 billion in the quarter.

Meta reported better-than-expected results for the third quarter as revenue increased 23%, the fastest rate of growth since 2021. The stock rose more than 2% in extended trading Wednesday.

Here are the key numbers:

• Earnings per share: $4.39 vs. $3.63 expected by LSEG, formerly known as Refinitiv
• Revenue: $34.15 billion vs. $33.56 billion expected by LSEG

Investors are also looking at user numbers:

• Daily...

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