“Meta Q3 Revenue Hits Record $64B, EPS Beat Dented by Teen Lawsuit Settlement” — what this page in the network covers. Meta Platforms reported record third-quarter revenue of $64 billion, surpassing Wall Street's consensus estimate of $63.3 billion. Earnings per share came in at $3.83, also above forecasts, but were reduced by the cost of settling a lawsuit brought on behalf of teenage social media users. The settlement amount was not disclosed in the source, but it directly impacted the quarter's bottom line.
The lawsuit, which alleged harm to younger users, marks a significant legal expense for the tech giant as it continues to face regulatory and legal scrutiny over its platforms' impact on youth. In a move that could reshape its capital structure, Meta also announced a stock split that creates a new class of shares, Class C. This listing links straight to the original page, where the content is available in full.