Meta Platforms, Inc. Reports Advance In Q3 Income, Beats estimates

(RTTNews) - Meta Platforms, Inc. (META) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $11.58 billion, or $4.39 per share. This compares with $4.40 billion, or $1.64 per share, in last year's third quarter.

Analysts on average had expected the company to earn $3.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.2% to $34.15 billion from $27.71 billion last year.

Meta Platforms, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $11.58 Bln. vs. $4.40 Bln. last year. -EPS (Q3): $4.39 vs. $1.64 last year. -Analyst Estimate: $3.42 -Revenue (Q3): $34.15 Bln vs. $27.71 Bln last year.

-Guidance: Next quarter revenue guidance: $36.5 - 40.0 Bln