Meta beats analyst estimates in Q3 earnings report | News ...
Meta exceeded analyst expectations in its latest quarterly report released on Wednesday. The company reported earnings per share of $6.03 and revenue of $40.59 billion, surpassing the predicted figures. The revenue included $39.9 billion generated from advertising, reflecting an 18.7% increase compared to the previous year.
AI Progress and Momentum
Meta's CEO, Mark Zuckerberg, attributed the successful quarter to advancements in artificial intelligence (AI) across their applications and business. Zuckerberg highlighted the positive momentum in Meta AI, Llama adoption, and AI-powered glasses, showcasing the company's commitment to innovation.

Ad impressions on Meta's various apps experienced a 7% YoY increase, while the average price per ad saw an 11% YoY jump, indicating a healthy advertising ecosystem.
Advantage+ Program and AI Investments
During discussions with analysts, Zuckerberg disclosed that over one million marketers utilized Meta's generative AI for advertising purposes. The Advantage+ program offers AI tools that enable comprehensive image and text creation tailored to a brand's messaging tone.
User Growth and Financial Performance
Meta reported 3.29 billion active daily users in the last quarter, signifying a 5% growth. However, this figure fell short of analysts' projections. Additionally, the Reality Labs Unit incurred a loss of $4.4 billion, impacting the company's financial standing.
Industry Perspectives
Industry expert Mike Proulx, VP and research director at Forrester, commended Meta's emphasis on AI, noting its positive impact on user experience and engagement across the platform. He highlighted the benefits for advertisers targeting a more engaged audience, particularly on Facebook.

Proulx also drew attention to the significance of Meta's evolving social platform, Threads, likening its growth to a potential replacement for traditional social media channels.
Challenges in the Asia-Pacific Region
Meta faced challenges in the Asia-Pacific region, with a slowdown in ad revenue growth attributed to diminished demand from Chinese advertisers. The region reported a 15% revenue increase compared to the previous quarter's 28%, reflecting a shift in advertising dynamics.
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