Meta Platforms Inc., the parent company of Facebook, Instagram, and WhatsApp, reported a steep decline in third-quarter net income to USD 2.71 billion, driven by a one-time, non-cash charge tied to the implementation of the One Big Beautiful Bill Act.
Without the one-off charge of USD 15.93 billion, Meta’s net income would have risen to USD 18.64 billion. Meanwhile, revenue climbed 26 percent year-over-year to USD 51.24 billion.
The company’s ecosystem continued to expand, with daily active people averaging 3.54 billion in September, up 8 percent from a year earlier. The average price per ad also rose 10 percent year-over-year.
“We had a strong quarter for our business and our community,” said Mark Zuckerberg, Meta’s founder and CEO. “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, the next few years will be the most exciting period in our history.”
Despite the upbeat results, Meta’s shares fell more than 11 percent, as investors questioned the company’s ability to rein in its massive AI spending. Analysts cited growing concerns that Meta is “bleeding billions” in its race to match the AI industry’s escalating investment commitments.
Meta said it now expects to spend between USD 70 billion and USD 72 billion on AI this year—up from its earlier projection of USD 66 billion to USD 72 billion.
