Meta ad revenue fuels blowout Q3, $11.6 billion in profits

Meta’s third-quarter revenue jumped 23% to $34.15 billion, the latest indicator of a rebound in digital advertising. Meta, the parent company of Instagram, WhatsApp, Threads and Messenger, reported that:Ads viewed in the quarter increased by 31% from a year earlier. The company reported $11.6 billion in profit, more than twice the $4.4 billion from a year earlier. AI has been and will continue to be a big part of Meta’s drive to increase efficiency and lower costs. The company has depended on AI-powered marketing planning and ad measurement in particular in recent years to drive growth.