Meta Platforms is forecasting higher-than-expected fourth-quarter revenue, driven by increased holiday advertising spending, which will offset massive investments in artificial intelligence.
Despite a 2.5% drop in after-hours trading, Meta's revenue growth is significantly supported by AI-powered advertising tools and better monetization of its Reels video product.
With analysts anticipating a strong digital ad year in 2024, fueled by improving economic conditions like lower interest rates and vibrant consumer spending, Meta stands to benefit greatly.
Meta's third-quarter results exceeded expectations, showing a profit of $6.03 per share and revenue of $40.59 billion, indicating strong performance leading into the holiday season.
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