Meta Beats Revenue Estimates On Digital Ad Strength
Hindustan Times|October 27, 2023
Meta Platforms beat expectations for third-quarter profit and revenue on Wednesday, helped by its ongoing austerity drive and a recovery in digital advertising spending ahead of the holiday season.
Meta Beats Revenue Estimates On Digital Ad Strength

The owner of social media platforms Facebook and Instagram, which reported its best operating margins in two years, also trimmed expenses for the year. But the company forecast 2024 spending that will exceed Wall Street estimates, as it pushed hiring needs from this year to the next and continued to invest in Al infrastructure. It also suggested the conflict in Israel and Gaza could dampen fourth-quarter sales.

Shares of Meta, which have risen nearly 150% so far this year, flip-flopped in after-hours trading, initially gaining 3% before reversing to trade 3% below the closing price two hours later.

この記事は Hindustan Times の October 27, 2023 版に掲載されています。

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この記事は Hindustan Times の October 27, 2023 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

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