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Meta exceeds revenue forecast with new AI-driven shares
Meta achieved record revenue accumulations during the third quarter, reaching $64.6 billion, representing a 26% increase year-over-year, surpassing analyst expectations. This was supported by strong growth in the advertising sector, which generated $63.06 billion in revenue. The company's board of directors also made the decision to issue a new class of common shares, "Class C," for public trading without voting rights, to fund growth and increase investments in artificial intelligence. The issuance is scheduled to begin in January 2027. Additionally, Meta announced revenue projections for the fourth quarter between $73 billion and $76 billion, accompanied by increased capital expenditures, as it continues to invest in developing advanced AI models, despite recording a legal expense of $9.89 billion. CEO Mark Zuckerberg confirmed that the company continues to achieve milestones in artificial intelligence, with expectations of sustained financial growth supported by ongoing investments in technological infrastructure.
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