MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Meta Platforms, Inc. (META) on Wednesday reported third-quarter profit of $2.71 billion.
The Menlo Park, California-based company said it had net income of $1.05 per share. Earnings, adjusted for pretax expenses, were $7.25 per share.
The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $6.61 per share.
The social media company posted revenue of $51.24 billion in the period, also surpassing Street forecasts. Thirteen analysts surveyed by Zacks expected $49.45 billion.
For the current quarter ending in December, Meta Platforms said it expects revenue in the range of $56 billion to $59 billion.
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