Meta reports record sales as ad rebound continues

Introducing Threads helped Meta grow. (Image: Depositphotos)

Thu, 26 Oct 2023

By Salvador RodriguezFacebook parent Meta Platforms reported its largest quarterly revenue since going public more than a decade ago as demand for advertising picked up and the company continued to reap the benefits of cutting costs and developing new AI technology.Meta’s sales increased to US$34.1 billion (NZ$58.3b), up more than 23% compared with a year ago. That represents Meta’s third quarter in a row of rising revenue after the company saw its business shrink for most of 2022. The 23% increase is Meta’s largest year-...

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