Meta’s third-quarter profit surges 35% reflecting strong ad revenue and its AI push

Advertisement

Advertise with us

Meta Platforms Inc. posted stronger-than-expected results for the third quarter on Wednesday as its advertising revenue continued to grow.

Read this article for free:


or

Already have an account? Log in here »

To continue reading, please subscribe:

Subscribe and receive a limited-edition Free Press branded hat or tote.

Digital Subscription

One year of digital access for only $205*

  • Enjoy unlimited reading on winnipegfreepress.com
  • Read the E-Edition, our digital replica newspaper
  • Access News Break, our award-winning app
  • Play interactive puzzles

*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.

To continue reading, please subscribe:

Add Free Press access to your Brandon Sun subscription for only an additional

$1 for the first 4 weeks*

  • Enjoy unlimited reading on winnipegfreepress.com
  • Read the E-Edition, our digital replica newspaper
  • Access News Break, our award-winning app
  • Play interactive puzzles
Start now

*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.

Hey there, time traveller!
This article was published 30/10/2024 (690 days ago), so information in it may no longer be current.

Meta Platforms Inc. posted stronger-than-expected results for the third quarter on Wednesday as its advertising revenue continued to grow.

For the three months ended on Sept. 30, the Menlo Park, California-based company earned $15.69 billion, or $6.03 per share, up 35% from $11.58 billion, or $4.39 per share, in the same period a year earlier.

Revenue rose 19% to $40.59 billion from $34.15 billion.

FILE - Mark Zuckerberg wears a pair of Orion AR glasses during the Meta Connect conference on Sept. 25, 2024, in Menlo Park, Calif. (AP Photo/Godofredo A. Vásquez, File)
FILE - Mark Zuckerberg wears a pair of Orion AR glasses during the Meta Connect conference on Sept. 25, 2024, in Menlo Park, Calif. (AP Photo/Godofredo A. Vásquez, File)

Analysts, on average, were expecting earnings of $5.22 per share on revenue of $40.21 billion, according to FactSet Research.

“We had a good quarter driven by AI progress across our apps and business,” CEO Mark Zuckerberg said in a statement. “We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses.”

For the current quarter, Meta is forecasting revenue of $45 billion to $48 billion. Analysts are expecting $46.18 billion.

But the Instagram and Facebook parent company warned that it expects a “significant acceleration” in infrastructure spending next year.

Report Error Submit a Tip

More Stories

A quick look at where provinces and territories stand on time changes

The Canadian Press 2 minute read Preview

A quick look at where provinces and territories stand on time changes

The Canadian Press 2 minute read Friday, Sep. 18, 2026

WINNIPEG - Manitoba's government said Thursday the province will be sticking with daylight time year-round, making it the latest jurisdiction to move away from twice-annual time changes. Here's a look at where things stand across Canada:

British Columbia said in March that it was moving to permanent Pacific daylight time. The change also means that parts of northeastern B.C., which have been on mountain standard time year round, are now in alignment with the rest of the province.

Alberta also switched to permanent daylight time this year in what it calls Alberta time. The change means it now has the same time as Saskatchewan year round.

Saskatchewan has been on permanent central standard time since 1966.

Read
Friday, Sep. 18, 2026

Grieving child builds backyard rocket ship

Harriet Zaidman 4 minute read Yesterday at 2:01 AM CDT

I Built a Rocket Ship (Kids Can Press, 32 pages, hardcover, $22) by Winnipegger Anna Lazowski is a tender story for children ages 4-8 about a little girl trying to make sense of her mother’s death. The child engages in conversation with her late mom, agreeing and disagreeing about things said as she carries objects (and of course, the cat) to the backyard. There, she is building a rocket ship she will pilot into the skies to find her mom again.

Jennica Lounsbury’s varied perspectives show the range of emotions the little girl experiences.

● ● ●

Northwoods Lullaby by Mary Casanova (University of Minnesota Press, 32 pages, hardover, $25) is a bedtime book for readers up to age eight, perfect to bring a busy, happy day to a close. Just like children who are listening to adults reading the book, all the animal babies are being tucked into their nests and burrows by loving parents: “Thump and scamper,/nimble clover./ Soon it’s time to rest. Baby loon/ nestles in/as Papa floats along.”

Leila Avenue closed following serious two-vehicle crash

1 minute read Updated: 3:36 PM CDT

Leila Avenue was closed Sunday morning after a serious car crash.

Winnipeg Police Service spokesman Const. Pat Saydak confirmed the crash involved two vehicles near Leila and McGregor Street. He could not provide any more details on the crash, or say whether there were any injuries.

Westbound Leila from Powers Street to McGregor , and McGregor from Partridge Avenue to Templeton Avenue were closed Sunday morning.

The crash is being investigated.

Gillingham in lead with decided voters

Nicole Buffie 6 minute read Preview

Gillingham in lead with decided voters

Nicole Buffie 6 minute read Friday, Sep. 18, 2026

A cloud of uncertainty is hanging over Winnipeg as October’s municipal election nears.

Three months after a poll showed more than 40 per cent of Winnipeggers wanted to see someone other than current mayor Scott Gillingham elected, a new Abacus Data poll indicates more than half of Winnipeg voters are undecided heading into next month’s civic election.

Of decided voters, 55 per cent favour Gillingham compared to 23 per cent for former councillor and provincial cabinet minister Kevin Klein and 11 per cent for funeral director Mike Vogiatzakis.

Of all respondents, just over 50 per cent said they were unsure while 13 per cent said they will not vote.

Read
Friday, Sep. 18, 2026

Desperate Poilievre wants Canadians to believe the sky is falling when it’s just cloudy outside

Tom Brodbeck 5 minute read Preview

Desperate Poilievre wants Canadians to believe the sky is falling when it’s just cloudy outside

Tom Brodbeck 5 minute read Friday, Sep. 18, 2026

Pierre Poilievre has a problem.

Canadians just don’t seem to be paying much attention to him anymore.

So, naturally, the Conservative Opposition leader has decided to turn up the volume.

At a recent party caucus retreat in Penticton, B.C., Poilievre delivered the familiar message: Canada is in trouble, Canadians are hurting and the Liberal government is making everything worse.

Read
Friday, Sep. 18, 2026

Not falling back means time loop remains unclosed

Jen Zoratti 4 minute read Yesterday at 2:01 AM CDT

I demand restitution. Where’s my hour?

In the traditional fall-back, spring-forward time change set up — you know, ol’ trusty that’s been effect for lo these 63 years — we lost an hour in the spring that we got back in the fall.

That was the social contract: you commit to feeling like you’re on cold medication for a week in March because you know a glorious extra hour of sleep will be returned to you in November. (Unless, of course, you have little kids, but look: we all make our choices.)

Well, that transaction, flawed as it was, isn’t happening this year. That hour you sacrificed to the sun gods in the spring? Gone. Not coming back. We’ve sprung forward and we shan’t be falling back — not in November, and (possibly) not ever. The scale shall remain unbalanced and the loop shall remain unclosed as Manitoba has adopted permanent daylight time.