Meta's third-quarter revenue increased by 19%.

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Meta, the owner of Facebook, Instagram, and WhatsApp, saw its revenue increase by 19% and net profit by 35% in the third quarter of this year.

Meta announced its financial results for the third quarter of this year. Accordingly, the company's revenue for the third quarter rose to $40.5 billion, a 19% increase compared to the same period last year. Meta had generated $34.1 billion in revenue in the same period last year.

REVENUE ABOVE EXPECTATIONS

The revenue the company achieved during this period exceeded market expectations. Meta's net profit also increased by 35% in the third quarter of this year, reaching $15.6 billion. The company had reported a profit of $11.5 billion in the same period last year.

The earnings per share, which was $4.39 in the third quarter of last year, rose to $6.03 in the same period this year.

Meta's profit also exceeded market expectations during this period. The company reported that it expects revenue to be between $45 billion and $48 billion in the fourth quarter of the year. Meta CEO Mark Zuckerberg stated in his assessment of the company's financial results, "We had a good quarter thanks to the progress of artificial intelligence in our applications and business."