Meta forecasts third-quarter revenue above expectations

Facebook owner expecting quarterly income of up to $34.5bn, compared with analysts’ average estimate of $31.3bn

Meta Platforms forecast third-quarter revenue above market expectations on Wednesday, anticipating higher ad spending on signs of improving macroeconomic environment.

The owner of Facebook, Instagram, Threads and WhatsApp expects July-September revenue in the range $32 billion (€28.9 billion) to $34.5 billion, compared with analysts’ average estimate of $31.30 billion, according to Refinitiv data.

Meta employs more than 2,000 people in Ireland, even after cutting close to 900 jobs at the operation over the last year. The group’s Dublin base, headed by former Vodafone boss Anne O’Leary, remains its international headquarters and it is engaged in a significant investment in its Ballsbridge campus. – Reuters