Meta’s filing on Wednesday reported Q3 revenue of $33.27 billion, a 1% dip from $33.65 billion in the prior year’s same quarter, yet still outpacing the $32.90 billion consensus.
Operating margins tightened to 51% of revenue, up from 49% in Q2, while net income climbed to $16.2 billion, a 2% increase over the $15.9 billion reported a year earlier.
Compared to peers, Meta’s margin sits 3 percentage points above the Social Media sector average of 48%, giving it a cushion amid rising media costs.
Analysts from JPMorgan and Goldman Sachs raised their price targets to $355 and $360 respectively, citing stronger user engagement on Instagram and a 12% jump in subscription revenue from Meta’s new Creator Studio.
Looking ahead, Meta forecasts full‑year revenue of $130 billion, up 2% YoY, and a 2024 operating margin of 52%, while the next earnings release is slated for March 2025. The stock’s 2.5% rally underscores confidence in the company’s cost‑control plan and its continued push into the metaverse ecosystem.