Meta's third-quarter profit surges 35% reflecting strong ad revenue and its AI push

Meta Platforms Inc. has posted stronger-than-expected third-quarter results fueled by its advertising revenue growth and its push to incorporate artificial intelligence. But the Instagram and Facebook parent company warned that it expects a significant acceleration in infrastructure spending next year. For the three months ended on Sept. 30, the Menlo Park, California, company earned $15.69 billion, or $6.03 per share. That's up 35% from $11.58 billion, or $4.39 per share, in the same period a year earlier. Revenue rose 19%.