Meta Platforms, Inc. (NASDAQ:META) Q3 2023 Earnings Call Transcript October 25, 2023 5:00 PM ET

Company Participants

Ken Dorell - Director of IR

Mark Zuckerberg - CEO

Susan Li - CFO

Conference Call Participants

Brian Nowak - Morgan Stanley

Eric Sheridan - Goldman Sachs

Mark Shmulik - Bernstein

Doug Anmuth - JPMorgan

Justin Post - Bank of America Merrill Lynch

Youssef Squali - Truist

Ross Sandler - Barclays

Operator

Good afternoon. My name is Dave and I will be your conference operator today. At this time, I would like to welcome everyone to the Meta Third Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] This call will be recorded. Thank you very much.

Ken Dorell, Meta's Director of Investor Relations, you may begin.

Ken Dorell

Thank you. Good afternoon and welcome to Meta Platforms’ third quarter 2023 earnings conference call. Joining me today to discuss our results are Mark Zuckerberg, CEO, and Susan Li, CFO.

Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause these results to differ materially are set forth in today's press release and in our quarterly report on Form 10-Q filed with the SEC. Any forward-looking statements that we make on this call are based on assumptions as of today and we undertake no obligation to update these statements as a result of new information or future events.

During this call, we will present both GAAP and certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's earnings press release. The press release and an accompanying investor presentation are available on our website at investor.fb.com.

And now, I'd like to turn the call over to Mark.

Mark Zuckerberg

All right. Thanks, Ken. Thanks, everyone, for joining today. This was a good quarter for our community and our business. We estimate that there are now more than 3.9 billion people who use at least one of our apps every month. The big product news this quarter is that we just held our annual Connect conference and we discussed Quest 3, which is the first mainstream mixed reality device, and the next generation of Ray-Ban Meta smart glasses, which are the first smart glasses with our Meta AI built in.