Meta's income rises 35% in Q3, revenue climbs 19%

Company expects 4th quarter revenue to be in range of $45 billion to $48 billion

By Ovunc Kutlu

ISTANBUL (AA) - Meta Platforms saw its income rise 35% and revenue climb 19% in the third quarter, according to a financial results statement released Wednesday.

Net income rose to almost $15.7 billion for the three months ended Sept. 30, up from $11.6 billion during the same period last year.

Revenue was up to almost $40.6 billion from $34.1 billion during that period, according to the statement.

Family daily active people was 3.29 billion on average for September 2024 -- an increase of 5% year-on-year.

The average price per ad, meanwhile, increased 11% annually, according to the statement.

Meta, which is the parent firm of Facebook, Instagram and WhatsApp, said it expects fourth quarter revenue to be in the range of $45 billion to $48 billion.

"We had a good quarter, driven by AI progress across our apps and business," Meta founder and CEO Mark Zuckerberg said in the statement.

"We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses," he added.

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