Meta Platforms Inc. has posted stronger-than-expected third-quarter results fueled by its advertising revenue growth and its push to incorporate artificial intelligence
Meta Platforms Inc. posted stronger-than-expected third-quarter results on Wednesday fueled by its advertising revenue growth and its push to incorporate artificial intelligence.
But the Instagram and Facebook parent company warned that it expects a “significant acceleration” in infrastructure spending next year as it continues to pour money into developing AI.
For the three months ended on Sept. 30, the Menlo Park, California-based company earned $15.69 billion, or $6.03 per share, up 35% from $11.58 billion, or $4.39 per share, in the same period a year earlier.
Revenue rose 19% to $40.
