Bank of America: Meta Q3 Revenue Beats Expectations at $64.6 Billion, Price Target Raised to $845

according to Chaowang Research, a BofA Securities research note dated October 22, 2026, indicated that Meta's third-quarter revenue reached $64.6 billion, surpassing the market expectation of $63.3 billion; earnings per share were $3.83, below the expected $5.52, weighed down by a $9.9 billion one-time legal settlement charge; excluding this item, operating profit and EPS beat expectations; fourth-quarter revenue guidance of $73 billion to $76 billion exceeded the anticipated $73.6 billion.

BofA Securities concluded that AI investments are beginning to yield returns, the commercialization trajectory for Muse is clearer than in the prior quarter, and enterprise API licensing and subscriptions may serve as catalysts in 2027. Maintaining a Buy rating, the price target was raised from $810 to $845, based on a 25x multiple on 2027 EPS forecasts.