The Globe and Mail reports in its Thursday, Oct. 26, edition that Meta beat expectations for third quarter profit and revenue on Wednesday. A Reuters dispatch to The Globe reports that advertisers banking on resilient consumer spending flocked to Meta's digital platforms ahead of the holiday shopping season, a rebound that also boosted ad sales at Alphabet and Snap. In the third quarter ended Sept. 30, ads viewed increased by 31 per cent from a year earlier. The average price per ad decreased by 6 per cent, but the pace of fall was the slowest in seven quarters. Insider Intelligence analyst Jeremy Goldman says, "The anticipated global surge in digital ad spending, poised to hit $667.6-billion next year, combined with Meta's effective execution and cost control, puts the company on strong footing." Meta also warned again on regulatory pressures ahead and on additional spending on infrastructure as it builds out its artificial-intelligence services. It forecast total 2023 expenses at between $87-billion and $89-billion, down from its earlier forecast range of $88-billion to $91-billion. Meta also said it expected 2024 total expenses in the range of $94-billion to $99-billion, higher than estimates.