Meta Platforms, Inc. Q3 Income Declines, misses estimates

(RTTNews) - Meta Platforms, Inc. (META) announced a profit for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $4.39 billion, or $1.64 per share. This compares with $9.19 billion, or $3.22 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.5% to $27.71 billion from $29.01 billion last year.

Meta Platforms, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $4.39 Bln. vs. $9.19 Bln. last year. -EPS (Q3): $1.64 vs. $3.22 last year. -Analyst Estimates: $1.89 -Revenue (Q3): $27.71 Bln vs. $29.01 Bln last year.

-Guidance: Next quarter revenue guidance: $30.0 - 32.5 Bln