Meta Platforms Q3 Earnings: Revenue Beat, EPS Beat, Daily Actives Up 5%, 'Strong Momentum' In AI

Meta Platforms Inc (NASDAQ:META) reported third-quarter financial results after the market close on Wednesday. Here’s everything you need to know from the quarter.

Q3 Earnings: Meta reported third-quarter revenue of $40.59 billion, beating analyst estimates of $40.29 billion. The company reported third-quarter adjusted earnings of $6.03 per share, beating analyst estimates of $5.25 per share.

Meta has now beat analyst estimates on the top and bottom lines in seven consecutive quarters, according to Benzinga Pro.

Total revenue was up 19% on a year-over-year basis. Family daily active people were up 5% year-over-year to 3.29 billion. Ad impressions jumped 7% year-over-year and average price per ad increased by 11% year-over-year.

Costs and expenses came in at $23.24 billion, up 14% year-over-year. Capital expenditures came in ...