The numbers
$40.58 billion: Meta’s Q3 income, up 19% YoY, narrowly topping Wall Road’s $40.3 billion estimate.
96%: The portion of Meta’s Q3 income pushed by advert gross sales. This can be a slight dip from Q2, when promoting accounted for 97% of its $36.5 billion in complete income.
$15.69 billion: Web revenue, up 35% YoY, or $6.03 per share, hitting a quarterly document.
3.29 billion: Common day by day lively customers throughout Meta apps in September 2024, up 5% YoY.
$48 billion: The highest finish of Meta’s This fall income forecast, consistent with analyst projections.
The water cooler speak
Because the AI arms race picks up in Silicon Valley, Meta is ramping up its investments within the know-how, particularly to strengthen its advert focusing on and content material advice capabilities.
In October, Meta launched new generative AI advert instruments centered on video creation. The corporate can also be placing its AI chatbot all over the place, together with WhatsApp, Messenger, and Instagram. And it inked a multiyear deal with Reuters, permitting Meta AI to ship real-time information and present occasion responses utilizing Reuters’ information content material. Meta AI has greater than 500 million month-to-month lively customers, per firm estimates.
In the meantime, Meta is reportedly growing an AI-powered search engine in a bid reduce its reliance on Google and Microsoft’s Bing, which at present helps Meta AI.
The tech big additionally rolled out new options on Threads in Q3, together with insights on publish efficiency for companies and creators — although chief monetary officer Susan Li stated Meta doesn’t anticipate the platform to be “a significant driver of 2025 income.”
Key quotes
“Over time, there can be a broadening set of queries that folks use [Meta AI] for, and monetization alternatives will exist,” stated Li.
“On the enterprise aspect, we wish to proceed making progress on this imaginative and prescient of [helping] small enterprise, or any enterprise, with a number of clicks to arrange an AI agent that may assist do customer support and promote issues to all of their prospects world wide,” stated CEO Mark Zuckerberg. “That’s an enormous alternative.”