Third-quarter revenue rose 26% to $64.6bn ($63.4bn expected). The number of people using at least one of Meta's apps on a daily basis rose 3% to 3.64bn. Ad impressions increased 10%, while average price per ad rose 14%.
Excluding a $9.9bn charge relating to its agreement with US State Attorneys General, operating income rose 11% to $22.9bn, with margins declining from 40% to 35%.
Free cash flow was negative $2.1bn, down from a $10.6bn inflow in the same period last year, as capital expenditure rose to $34.9bn. Net debt, including lease liabilities, was $29.6bn.
Fourth-quarter revenue is expected to be in the range of $73-76bn ($74.4bn expected). Full-year capital expenditure guidance now stands at $135-145bn (previously $130-145bn).
Meta also announced a new class of non-voting shares, which will give it another way to raise capital.
The shares rose 2.2% in after-hours trading.
Our view
HL view to follow.
Meta key facts
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This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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