Meta's Strong Earnings Propel Stock to New Heights

Meta, the parent company of Facebook and Instagram, reported better-than-expected third-quarter earnings, with revenue of $34.15 billion and earnings per share of $4.39. The company's shares rose 4% in after-hours trading. Meta's advertising revenue came in at $33.64 billion, beating expectations, and its ad impressions increased by 31% year-over-year. Despite legal risks and ongoing controversies surrounding its mixed reality business, Meta's stock has performed well this year, rising over 140%. The company is focused on strengthening its AI efforts and position in the digital advertising market.