Meta Platforms Inc (Facebook) exceeded Q3 earnings expectations with strong ad growth and positive outlook.

From Investing.com: 2024-10-30 16:57:20

Meta Platforms Inc (NASDAQ:) exceeded third-quarter earnings and revenue expectations due to strong ad growth in impressions and pricing. Despite a 2.2% drop in after-hours trading, the company posted adjusted EPS of $6.03 and revenue of $40.59 billion, beating analyst estimates. Ad impressions rose 7% YoY, with an 11% increase in ad prices. For Q4, Meta expects revenue between $45-48 billion, above the consensus of $46.09 billion. Daily active users reached 3.29 billion in September 2024, up 5% YoY, with strong free cash flow of $15.52 billion for the quarter. CEO Mark Zuckerberg highlighted progress in AI and future growth prospects.



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