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Meta Platforms said on Wednesday that its third-quarter profit jumped more than threefold, as the social media giant’s revenue climbed sharply.
The parent company of Facebook and Instagram reported net income of US$9.86 billion, or US$3.83 per share, for the July-September period. That’s up from a profit of US$2.71 billion, or US$1.05 per share, in the same period a year earlier.
Revenue grew 26 per cent to US$64.60 billion, up from US$51.24 billion in the prior-year quarter and above the US$63.34 billion expected by Wall Street analysts.
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