The company also trimmed its 2023 total expenses view to $87-billion to $89-billion
beat expectations for third-quarter revenue on Wednesday, while warning of additional spending and regulatory pressures ahead for 2024.
The social media giant said it expected 2024 total expenses in the range of $94 billion-99 billion, higher than estimates, according to LSEG data. The company also trimmed its 2023 total expenses view to $87 billion to $89 billion from its earlier forecast range of $88 billion to $91 billion.Meta has been climbing back from a bruising 2022, buoyed by the hype around emerging AI technology, a recovery in digital advertising and an aggressive austerity drive in which it shed around 21,000 employees since last autumn.Revenue rose 23 per cent to $34.15 billion for the quarter ended September. Analysts were expecting revenue of $33.
Facebook’s daily active users grew 5 per cent, while ad impressions across Meta’s apps grew 31 per cent.Market data values update automatically. Checking box will enable automatic data updates.