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Meta Delivers Strong Q3 Report And Upbeat Holiday Outlook; Daily Active Users Grow 5% To Nearly 3.3B
Meta Platforms handily beat Wall Street analysts' estimates in the third quarter, offering an upbeat view of the holiday quarter.
The number of daily active users across Facebook, Instagram and WhatsApp reached 3.29 billion, up 5% from the year-ago quarter. While Meta changed its name in 2022 to reflect its strategic shift toward the metaverse, that part of the company continues to be an unprofitable project designed to help future-proof the overall business. Similar enthusiasm greeted Snap Inc.’s solid financial results on Tuesday, as well as its plan to release a simplified, more user- and advertiser-friendly version of its Snapchat app.
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