From Adweek · Alyshia Hull · · 40s
Meta Beats Q3 Expectations With Strong Earnings
Meta's Q3 earnings exceed forecasts with AI-driven ad growth despite legal settlement costs.
In brief
Meta's Q3 earnings exceed forecasts with AI-driven ad growth despite legal settlement costs. Meta reported $63.1 billion in Q3 ad revenue up 26% year over year while facing a $9.9 billion legal settlement charge. Originally reported by Adweek.
Q3 Revenue Figures
Meta reported $64.6 billion total Q3 revenue, up 26% year over year.
Ad Revenue Growth
Ad revenue rose 26% year over year to $63.1 billion with 10% more ad impressions.
AI Advertising Improvements
AI tools boosted conversions by 1.7% for off-site campaigns and 9.6% for app ads.
Legal Settlement Charge
Meta recognized $9.9 billion pre-tax charge for youth mental health lawsuits.
Here's the gist
Meta reported $63.1 billion in Q3 ad revenue up 26% year over year while facing a $9.9 billion legal settlement charge.
