Meta and IBM increase profits in the third quarter
The revenue of Meta, the owner of Facebook, Instagram, and WhatsApp, reached 34.1 billion dollars in the third quarter of the year, while IBM's revenue rose to 14.8 billion dollars.
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Two major firms, Meta and IBM, increased their revenues in the third quarter.
META'S BALANCE SHEET ANNOUNCED
Accordingly, the company's revenue in the third quarter of this year increased by 23 percent compared to the same period last year, reaching 34.1 billion dollars. The company had generated 27.7 billion dollars in revenue during the same period in 2022. Meta's net profit also rose by 164 percent in the third quarter of this year to 11.6 billion dollars. The company had announced a net profit of 4.4 billion dollars in the third quarter of 2022.
The company's earnings per share, which were 1.64 dollars in the third quarter of 2022, reached 4.39 dollars in the same period this year.
The number of daily and monthly active users of Facebook, under the Meta umbrella, continued to increase during this period.
THE COMPANY'S NUMBER OF EMPLOYEES REDUCED
As of September, Facebook's daily active user count increased by 5 percent on an annual basis to 2.09 billion. The social networking site's monthly active user count also rose by 3 percent in the same period to 3.05 billion. As of September 30, the company's number of employees decreased by 24 percent compared to the previous year, falling to 66,185.
In the statement, Meta CEO Mark Zuckerberg noted that they had a good quarter, expressing pride in the work they have done to advance artificial intelligence and mixed reality with the launch of Quest 3, Ray-Ban Meta smart glasses, and AI studios.
IBM'S NET PROFIT ANNOUNCED
IBM, which announced its balance sheet for the July-September period, saw its third-quarter revenue rise by 4.6 percent compared to the same period last year to 14.8 billion dollars. IBM had generated 14.1 billion dollars in revenue in the third quarter of 2022.
The company's net profit also rose to 1.7 billion dollars in the third quarter of the year. IBM had announced a loss of 3.2 billion dollars in the third quarter of last year.
The company, which had a net loss of 3.54 dollars per share in the third quarter of last year, recorded a net profit of 1.84 dollars per share in the same quarter this year.