Meta, the parent company of Facebook, has reported better-than-expected results for the third quarter of 2023

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The company’s revenue increased by 23%, which is the fastest rate of growth since 2021. Following the announcement, the stock rose more than 4% in extended trading on Wednesday.

Here are some key financial metrics from Meta’s Q3 2023 earnings report:

  • Earnings: $4.39 per share vs $3.63 per share expected by LSEG, formerly known as Refinitiv.
  • Revenue: $34.15 billion vs $33.56 billion expected by LSEG.

Investors are also focused on user numbers:

  • Daily active users (DAUs): 2.09 billion vs 2.07 billion expected, according to StreetAccount.
  • Monthly active users (MAUs): 3.05 billion vs 3.05 billion expected, according to StreetAccount.
  • Average revenue per user (ARPU): $11.05 expected, according to StreetAccount.