Meta stock surges after earnings beat with a $64 billion revenue, but operating profits slumped

Meta shares rose 2.5% in extended trading Wednesday after the Facebook parent reported third-quarter revenue of $64.60 billion, beating Wall Street’s $63.37 billion forecast. Revenue grew 26%, but operating income was negatively affected, and earnings came to $3.83 per share; it was unclear whether that figure could be compared with analysts’ $5.75 expectation. Meta forecast fourth-quarter revenue of $73 billion to $76 billion, with the midpoint at $74.5 billion versus LSEG’s $73.73 billion estimate, and changed its estimated annual investment range to $135 billion to $145 billion from $130 billion to $145 billion. Daily active users across its apps reached 3.64 billion, slightly below StreetAccount’s 3.65 billion expectation.