Company reports third-quarter revenue of $34.15bn, beating expected $33.56bn, and shares jumped in after-hours trading
Meta soared past analyst expectations in its third-quarter earnings report, solidifying investor confidence that the previously embattled tech company is out of the woods after several volatile years. CEO Mark Zuckerberg said the company enjoyed its “highest operating margin in two years.”
The company reported a third-quarter revenue of $34.15bn, beating the expected $33.56bn, up 23% year-over-year. Shares jumped in after-hours trading, with results boosting investor confidence after Meta spent several years in volatility as it attempted to restructure its business model and expand beyond the social media products it built its empire upon. That said, advertising remains its primary revenue driver.
