Meta reported its third-quarter financial results, revealing that operating income would have reached $22.89 billion without the impact of a recent legal settlement. The company recorded total costs and expenses of $51.61 billion for the period, a figure that includes a significant portion of the payout related to child safety litigation.
In August, Meta reached a settlement agreement totaling $17.1 billion to resolve nationwide lawsuits alleging that its social media platforms were designed to be addictive to children. The company noted that $5.3 billion of this total is contingent upon YouTube and TikTok implementing stricter safety measures for younger users.
The company faces further financial pressure following a Wednesday ruling from a New Mexico court, which ordered Meta to pay $25 billion regarding the Cambridge Analytica scandal. Despite these legal obligations, Meta generated $64.60 billion in revenue during the third quarter.
CEO Mark Zuckerberg credited the company's revenue growth to ongoing investments in artificial intelligence. According to the executive, these investments are yielding results across the core business, with the company reaching milestones in the development of personal superintelligence.
