Revenue tops forecasts as sales grow 26%
Meta released its third-quarter results after markets closed on Wednesday, reporting revenue of $64.60 billion against the $63.37 billion that LSEG-tracked analysts had projected. Earnings per share came in at $3.83. The company said it was not immediately clear whether that per-share figure could be compared directly with the $5.75 analysts had anticipated. Revenue was 26% higher than in the same quarter a year earlier.[S1]
The company also disclosed a stock split alongside the quarterly figures, according to Forbes. The split announcement accompanied revenue of roughly $64 billion for the quarter.[S2]
Muse assistant fuels a strong September
Chief executive Mark Zuckerberg said in the earnings release that the quarter brought major milestones toward delivering personal superintelligence for everyone, including the launch of Muse and Muse Wonder, described as the company's first frontier model. The early performance of the Muse AI personal assistant, which debuted in September, helped Meta close September with its strongest month on Wall Street since 2022.[S1]
Understand this article deeper
Meta was not the first company to build a digital assistant capable of organizing email and scanning the web for headphone deals, but its portfolio, which includes Facebook and Instagram, has helped bring AI agents to a broad public. Meta and its AI chief Alexandr Wang have kept up a rapid pace of foundation model releases and related updates, including Muse Wonder, which arrived last Monday.[S1]
