Meta: AI Spending Is Exploding, But So Is The Opportunity

Meta Platforms, Inc.'s Q3 revenue grew 26% YoY, with strong advertising performance and Q4 guidance suggesting further acceleration. AI is already improving advertising monetization, while Muse's early adoption and substantial business opportunities offer significant additional growth potential. However, surging infrastructure expenses are pressuring operating leverage, with adjusted operating income growing just 11% and free cash flow turning negative.