{
  "id": 15946196,
  "title": "Meta’s Almost $10 Billion Legal Costs Take Huge Toll on Q3 Earnings, Wall Street Shrugs",
  "url": "https://urgent.news/2026/10/21/metas-almost-10-billion-legal-costs-take-huge-toll-on-q3-earnings",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T20:13:30.000Z",
  "source": {
    "name": "Variety",
    "slug": "variety",
    "url": "https://variety.com/2026/biz/news/meta-q3-earnings-2026-1236918874/"
  },
  "original_language": "en",
  "account": null,
  "summary": "Meta reported $64.6 billion in third quarter revenue, which represents a 26% annual increase and surpassed analyst projections of $63.3 billion. Variety reported that the company's revenue was up 28% for the quarter, while TheWrap noted that earnings per share reached $7.40 excluding one-time legal charges, beating the Wall Street forecast of $5.46 per share.\n\nThe company's third quarter costs and expenses included a $9.89 billion charge related to an agreement with 52 attorneys general to resolve litigation concerning teen mental health and social media. TheWrap reports this settlement provides for payments of up to approximately $18.59 billion. Additionally, TheWrap stated that a New Mexico judge imposed a $25 billion fee against the company for misleading Facebook users regarding data privacy practices.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Sydney Morning Herald",
        "title": "ASX set for flat start, Wall Street climbs; Meta ordered to pay $36 billion in privacy case; Tesla results ahead",
        "url": "https://urgent.news/2026/10/21/asx-set-for-flat-start-wall-street-climbs-meta-ordered-to-pay-36",
        "published": "2026-10-21T18:28:36.000Z"
      },
      {
        "outlet": "The Age",
        "title": "ASX set for flat start, Wall Street climbs; Meta ordered to pay $36 billion in privacy case; Tesla results ahead",
        "url": "https://urgent.news/2026/10/21/asx-set-for-flat-start-wall-street-climbs-meta-ordered-to-pay-36",
        "published": "2026-10-21T18:28:36.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}