© Reuters. FILE PHOTO: The logo of Meta Platforms’ business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo
(Reuters) – Meta beat expectations for third-quarter revenue on Wednesday as its social media platforms Facebook (NASDAQ:) and Instagram drew advertisers looking to capitalize on resilient consumer spending.
The company also trimmed its 2023 total expenses view to $87 billion to $89 billion from its earlier forecast range of $88 billion to $91 billion.
Shares of Meta rose 4% in extended trading.
Revenue rose 23% to $34.15 billion for the quarter ended September. Analysts were expecting revenue of $33.56 billion, according to LSEG data.
Meta saw 7% growth in daily active people (DAP) – a metric it uses to track unique users who used any one of its apps such as Facebook, Instagram, Messenger or WhatsApp in a day. DAP grew 7% in the preceding June quarter.
Facebook’s daily active users grew 5%, while ad impressions across Meta’s apps grew 31%.
This story originally appeared on Investing
