Meta's Earnings Top Estimates With a Boost From AI Demand as It Lifts Spending Projections

Meta Platforms (META) reported third-quarter earnings that topped analysts' estimates with a boost from artificial intelligence (AI) demand, and lifted its estimates for how much money it plans to spend this year as it invests in the emerging tech. The Facebook and Instagram parent reported $40.59 billion in revenue, up from $34.15 billion the same time last year and above the $40.27 billion analysts had expected, according to estimates compiled by Visible Alpha. Meta posted $15.69 billion in net income, u ...