Mark Zuckerberg’s Meta beat expectations for third-quarter revenue on Wednesday as its social media platforms Facebook and Instagram drew advertisers trying to capitalize on resilient consumer spending.
The corporate also trimmed its 2023 total expenses view to $87 billion to $89 billion from its earlier forecast range of $88 billion to $91 billion.
Shares of Meta rose 4% in prolonged trading.
Revenue rose 23% to $34.15 billion for the quarter ended September. Analysts were expecting revenue of $33.56 billion, based on LSEG data.
Meta saw 7% growth in each day lively people (DAP) – a metric it uses to trace unique users who used any one in all its apps reminiscent of Facebook, Instagram, Messenger or WhatsApp in a day. DAP grew 7% within the preceding June quarter.
Facebook’s each day lively users grew 5%, while ad impressions across Meta’s apps grew 31%.
