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via finance.yahoo.comBusiness & Companies

Meta beats Q3 estimates, approves nonvoting share class as AI spending surges

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Meta Platforms beat Wall Street's third-quarter revenue expectations on strong advertising growth and forecast further gains in the current quarter, while unveiling a new nonvoting share class to support its long-term investment plans. Shares rose 7% following…

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bullishA mega-cap beating revenue and earnings estimates and guiding higher is market-moving for the tech sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Meta reported revenue of $64.60 billion, up 26% year over year and above expectations.
  2. 02EPS rose to $3.83 versus a $3.57 consensus, despite a $9.89 billion legal charge.
  3. 03Shares rose 7% following the results, and the company approved a new nonvoting share class.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Meta Platforms, Inc.METAStock697.52 USDMarket closedtoday +0.47%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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