The growth was driven by a strategic combination of investments in artificial intelligence (AI), infrastructure improvements and advances in digital advertising, consolidating Meta as a leading technology player.
During the period, the company's total revenue rose 19%, reaching US$40.6 billion, while operating profit grew 26%, totaling US$17.4 billion.
Meta’s strong financial performance in the third quarter was largely due to the integration chinese overseas australia database of advanced AI tools that optimized both the user experience and the efficiency of its ad services. Meta AI, which was launched to power the company’s leading platforms, including Facebook and Instagram, also brought significant improvements to ad targeting and delivery, resulting in a 19% increase in ad revenue to $39.9 billion. The growth was supported by an 11% increase in average ad price and a 7% increase in ad impressions.
According to Meta CEO Mark Zuckerberg, investments in AI not only improve the user experience, but also increase the company’s profitability and competitiveness in the technology and digital communications sector. “Our investments in AI continue to require a robust infrastructure, and I expect to continue investing significantly in this area,” Zuckerberg highlighted.
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Infrastructure investments and increased operating expenses
Despite the impressive growth in profits, Meta’s operating costs and expenses also rose 14% to $23.2 billion. Much of this spending went to research and development, where the company allocated $11.2 billion to AI projects and infrastructure improvements.
Additionally, Meta has dedicated $9.2 billion in capital expenditures, primarily to expand its infrastructure, to meet growing demand and expectations of higher operating costs by 2025.
For fiscal 2024, Meta revised its capital expenditure forecast to between $38 billion and $40 billion, an adjustment from its initial estimate of $37 billion to $40 billion. The company anticipates that these investments will be crucial to maintaining competitiveness and supporting the advancement of new technologies.