Meta reports upbeat guidance after Q3 earnings tops estimates as margins jump
Invesitng.com — Meta Platforms reported Wednesday third-quarter results that topped Wall Street expectations and stronger guidance for the current quarter as cost cuts boosted margins.
Meta Platforms Inc (NASDAQ:META) rose more than 4% in afterhours trading following the report.
Meta reported adjusted EPS of $4.39 on revenue of $34.15 billion. Analysts polled by Investing.com anticipated EPS of $3.64 on revenue of $33.57B.
Total costs and expenses were $20.40 billion, a decrease of 7% year-over-year, boosting operating margin to 40% in Q3 from 20% a year earlier.
Advertising revenue jumped 23% to $33.64B from $27.24B.
Facebook daily active users, or DAUs, rose 7% to 3.14B, while monthly active people, or MAUs, rose 3% to 3.05B.
Looking ahead, the company said it expects third quarter revenue to be in the range of $36.5B to $40B, beating estimates for $38.84B.
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