Meta Platforms reported third quarter 2026 financial results today showing total revenue rising 26% year over year to $64.6 billion, boosted by strong digital advertising demand and AI recommendation tools. Despite the top line surge, the tech giant recorded a $9.89 billion legal charge to settle nationwide litigation with 52 state attorneys general over youth social media addiction claims, pushing operating income down 37%.
The multi billion dollar legal settlement coincides with escalating state level privacy enforcement targeting social media platforms. On October 21, a federal judge ordered Meta to pay $25 billion in civil damages following a separate state trial in New Mexico concerning deceptive consumer data practices and child safety violations.
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