Meta beats on top and bottom lines as digital ad recovery pushes revenue up 23%

Meta reported better-than-expected results for the third quarter as revenue increased 23%, the fastest rate of growth since 2021.

The stock initially rose in extended trading after the report, but then reversed course and fell more than 3% following cautionary comments from finance chief Susan Li about potential ad softness tied to the Middle East conflict.

Here are the key numbers:

• Earnings per share: $4.39 vs. $3.63 expected by LSEG,…