Meta Platforms reported third-quarter revenue of $64.6 billion, above the $63.37 billion expected by analysts polled by LSEG, CNBC reported on Thursday, Oct. 22, 2026¹.

The figure was 26% higher than the same period a year earlier, CNBC said¹. Earnings were $3.83 per share, up from $1.05 a year earlier¹.

The results were released after the market close Wednesday, CNBC said¹. Shares were down more than 2% in premarket trading Thursday, according to the report¹. CNBC said the stock was up nearly 6% in 2026 year to date¹.

CNBC attributed part of the recent move to Meta's Muse AI personal assistant, unveiled in September, and said the stock had risen almost 27% in one month after that launch¹.

Barclays analyst Ross Sandler kept an overweight rating and raised his price target to $880 from $780, CNBC reported¹. Sandler wrote that Muse was "off to a great start and represents a game changer for the META narrative"¹.

CNBC said Sandler wrote that management expects strong overall revenue growth looking to 2027, with AI still improving core ad recommendations and conversions and newer AI revenue beginning to contribute across subscriptions, APIs and enterprise offerings¹.

Goldman Sachs analyst Eric Sheridan has a buy rating and raised his 12-month price target to $860 from $725, CNBC reported¹. Sheridan said he still saw a positive risk-reward skew despite a recent re-rating, according to the excerpt CNBC published¹.

Those price targets and ratings are analyst opinions, not company guidance¹. Meta's own full earnings release was not among the assignment sources¹.

Sources

1. CNBCMeta Platforms beat the Street. Here's why analysts are bullish on the stockOct 22, 8:52 AM

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