Meta Platforms Sees Revenue Boost from Ad Recovery, Cautious Over Volatility and Middle East Conflict

Boost in Meta's Q3 revenues attributed to digital advertising growth and cost-cutting measures; The company's Reality Labs unit registers $3.74 billion operating loss while its AI push is marked as a key investment for 2024, despite uncertainties surrounding the Israel-Hamas war.

• Meta Platforms' Q3 revenues saw a boost of 23%, outperforming its rivals thanks to a recovery in digital advertising and strategic cost-cutting measures.
• The company's operating margin doubled to 40% due to austerity measures, which included an aggressive cut of approximately 21,000 employees.
• Reality Labs, Meta’s unit responsible for developing metaverse-related technologies, registered a substantial operating loss of $3.74 billion despite the company’s growing interest in AI investment.
• The company's daily active users grew by , contributing to a 31% increase in ads viewed. Despite a decrease in price per ad, it marked the slowest decline across the past seven quarters.
• Increasing Middle East conflict and geopolitical volatility have imposed uncertainties in the company's Q4 outlook, making investors cautious due to the implications for global digital advertising.

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