Meta surpassed revenue estimates, profit significantly increased, and the company will issue new shares

Meta Platforms reported a 26% year-over-year revenue increase to $64.60 billion in Q3, surpassing expectations. However, net profit of $9.86 billion fell short of analyst forecasts. The company plans to issue new Class C shares to fund AI investments. CEO Mark Zuckerberg aims to facilitate acquisitions and retain top talent while maintaining control amid rising AI competition. Advertising remains the primary revenue driver, with improved targeting strategies. Following the earnings report, Meta's stock rose over 4%, despite a court ruling requiring a $25 billion payment for data handling issues.