Facebook and Instagram earned $14 billion, or $5.33 per share, in the third quarter of 2023. California-based Meta Platforms Inc., the parent company of Facebook and Instagram, recently said it earned $14 billion, or $5.33 per share, in the October-December period.
This is more than $4.65 billion or $1.76 per share a year ago. Revenue increased 25 percent year-on-year to $40.11 billion. It was $32.17 billion a year ago.
“This was an important year for our company,” Meta Platforms Inc. said in a statement. We enhanced our operational discipline, strengthened our product priorities and improved ad performance for businesses that rely on our services,” PTI reported.