Meta's Q4 guidance dampens earnings beat gains

Meta, the parent company of Facebook and Instagram, reported better-than-expected Q3 earnings but issued conservative guidance for Q4, citing geopolitical unrest and a softening ad market. The company's shares initially rose but erased gains after the earnings call. Meta's Q3 advertising revenue came in at $33.64 billion, beating expectations, and its ad impressions increased by 31% YoY. However, the company is facing legal risks from federal and state lawsuits related to features geared toward children. Despite the challenges, Meta's shares have risen over 130% this year.