The turn happened late on the post-earnings call when management was asked more about fourth-quarter revenue guidance.
Meta Platforms reported strong third-quarter results thanks to a rebound in advertising sales and continued cost discipline in CEO Mark Zuckerberg's "year of efficiency. However, warnings of a volatile start to ad spending in the fourth quarter that coincided with the war in the Middle East caused shares to give up their initial after-hours gains and trade lower. Revenue for the three months ended Sept. 30 climbed 23% year-over-year to $34.
Visitors stand in front of a Meta logo during a launch event at the corporate offices of Meta in Berlin, June 6, 2023. reported strong third-quarter results thanks to a rebound in advertising sales and continued cost discipline in CEO Mark Zuckerberg's "year of efficiency. However, warnings of a volatile start to ad spending in the fourth quarter that coincided with the war in the Middle East caused shares to give up their initial after-hours gains and trade lower.
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