Meta reported a record quarterly profit, with a net income of $15.68 billion, up 35% year-over-year, driven largely by AI advancements in its applications.
CEO Mark Zuckerberg stated, 'We had a good quarter driven by AI progress across our apps and business,' spotlighting the impact of AI on user interaction.
Despite a slight slow down in revenue growth, Meta's Q3 revenues increased by 19%, surpassing analyst estimates, largely supported by advertising which comprised 96% of sales.
Threads has grown significantly, reaching 275 million monthly users, up 37.5% from Q2, showcasing Meta's ability to create competitive social platforms.
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