Meta's Q3 revenue surpasses expectations at $40.59B, while stock dips due to increased AI investment costs.

Meta's third-quarter revenue hit $40.59 billion, exceeding analyst expectations. CEO Mark Zuckerberg reaffirmed the company's commitment to investing in artificial intelligence (AI), viewing it as crucial for future growth. Despite strong earnings, Meta's stock fell after hours due to rising costs associated with rapid AI infrastructure development. The company increased its 2024 capital expenditure forecast to $38 billion, reflecting its focus on AI advancements.

October 31, 2024
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