• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Time to bail on Meta?

While X may be performing better than some people had anticipated, investors might not want to ignore Meta — as the company remains a behemoth in the social media industry.

Meta's third-quarter earnings report, for the period ending Sept. 30, 2023, shows Facebook had reached 3.05 billion monthly active users, a 3% increase from the previous year.

The broader reach of Meta's family of services — including Facebook, Instagram, Messenger and WhatsApp, among others — amassed a whopping 3.96 billion monthly active users as of the end of Q3, marking 7% growth year over year. This figure represents approximately half of the global population.

Meta has also seen improvements in user monetization. In Q3, Facebook's average revenue per user (ARPU) rose to $11.23, up from $9.41 in the same quarter the previous year.

The company's total revenue in Q3 grew by 23% year over year, reaching $34.15 billion. Net income came in at $11.58 billion, or $4.39 per share.

Meta’s stock has also shown remarkable growth, soaring 170% year to date. JPMorgan analyst Doug Anmuth sees further upside on the horizon. The analyst has an "Overweight" rating on Meta and a price target of $400 — roughly 18% above the current levels.


Follow These Steps if you Want to Retire Early

Secure your financial future with a tailored plan to maximize investments, navigate taxes, and retire comfortably.

Zoe Financial is an online platform that can match you with a network of vetted fiduciary advisors who are evaluated based on their credentials, education, experience, and pricing. The best part? - there is no fee to find an advisor.

About the Author

Jing Pan

Jing Pan

Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.

What to Read Next


The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.