Still, Meta’s third-quarter revenue represented a 4.5% decrease compared with the same period last year.
Meta’s mixed results come as other social networks struggle to attract ad dollars.
Meta’s stock dropped more than 19% in after-hours trading, to $105.09 per share.
The company’s outlook for revenue in the fourth quarter was between $30 billion and $32.5 billion.
Analysts are expecting Meta to report $32.2 billion in revenue in the fourth quarter, according to Refinitiv.
Meta has been looking for ways to cut costs as it braces for an economic downturn.
In July, Meta reported its first drop inquarterly revenuein the company’s history and missed earnings expectations.
The company said Wednesday that some teams would remain the same size while others would shrink.
Meta would only grow worker numbers in its “highest priorities.”
It unveiled its high-endMeta Quest Pro VR headsetthis month.
The tech company also faces other challenges in its ads business.
