Meta Platforms reported third-quarter revenue of $64.6 billion, up 26 % year over year and above the $63.3 billion expected by analysts. Net income reached $9.9 billion, while operating income fell to $13 billion and the operating margin dropped to 20 %, partly due to a charge related to a $10 billion youth safety settlement. A New Mexico judge also ordered Meta to pay $25 billion in penalties over the Cambridge Analytica data privacy scandal, which the company plans to appeal. Meta launched Muse Wonder, its first frontier AI model, and reported quarterly capital expenditures of $34.9 billion, with full-year spending forecast at $135 billion to $145 billion. Free cash flow turned negative at $2.1 billion, but shares rose more than 4 % after the results.
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