Meta Platforms exceeded third-quarter revenue forecasts, driven by robust growth in its advertising business. However, the company recorded a $9.9 billion legal charge stemming from a settlement with 52 state attorneys general regarding teen mental health. This significant expense caused earnings to miss analyst expectations, with total settlement costs potentially reaching $18.59 billion.
Meta's net income soared 264% to $9.86 billion, sparking a 5% after-hours stock rally even as the company raised its full-year expense outlook.
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