India, Oct. 22 -- Meta beat investor expectations for third-quarter revenue in 2026, but its profits took a hit from billions of dollars in legal costs. The Facebook and Instagram owner is facing major penalties in the US.

As per AFP, Meta beat investor expectations for third-quarter revenue on Wednesday. But its profits took a hit because of an $18 billion legal settlement with nearly all US states.

According to AFP, the company reported $9.86 billion in profits from July to September. This was almost 50 percent below what investors expected. Meta said the drop was caused by a $9.9 billion charge linked to the settlement.

Meta shared its earnings just hours after another financial penalty was announced. This one is linked to a case in...