SAN FRANCISCO, Oct. 29 (Xinhua) -- U.S. social media giant Meta Platforms, Inc. on Wednesday reported third-quarter revenue of 51.24 billion U.S. dollars, up 26 percent from a year earlier.

However, the company's quarterly net income plunged to 2.71 billion dollars, down 83 percent from a year ago. The diluted earnings per share for the quarter decreased to 1.05 dollars from 6.03 dollars in the same period of 2024, said Meta, which is based in Menlo Park, California.

Its cash, cash equivalents and marketable securities were 44.45 billion dollars as of Sept. 30, 2025. Free cash flow was 10.62 billion dollars, according to the company.

"We had a strong quarter for our business and our community," said Mark Zuckerberg, Meta founder and CEO. "Meta Superintelligence Labs is off to a great start and we continue to lead the industry in AI glasses. If we deliver even a fraction of the opportunity ahead, then the next few years will be the most exciting period in our history."