Tech firm Meta Holdings has posted its Q3 earnings report, as multiple tech companies pour in their quarterly results.
Revenues were $51.24 billion, reflecting an increase of 26% year over year, as per an official press release.
CEO and founder Mark Zuckerberg said that the company had a strong quarter for the business and the community.
“Meta Superintelligence Labs is off to a great start and we continue to lead the industry in AI glasses. If we deliver even a fraction of the opportunity ahead, then the next few years will be the most exciting period in our history,” said Zuckerberg.
Through its capital return program, Meta participated in share repurchases of Class A common stock, buying back $3.16 billion worth.
For the quarterly period, cash, cash equivalents, and marketable securities were $44.45 billion. Cash flow from operating activities was $30 billion in Q3. Free cash flow was $10.62 billion. Headcount was marked at 78,450.
Expectations for the full year’s expenses were $116 billion – $118 billion for the year, upgraded from a previous outlook of $114 billion to $118 billion.
Costs and expenses for the year were marked at $30.71 billion, which reflected an increase of 32% year-on-year.