Bank of America Securities reported that Meta's revenue beat market expectations in the third quarter, mainly due to the benefit of artificial intelligence (AI) -driven usage and improved advertising targeting, while earnings per share continued to exceed expectations. The bank believes that Meta's AI-driven advertising improvement still has several quarters to develop, seeing its strong growth momentum in 2025, including AI and video-driven usage growth trends, higher return on investment and incremental advertising spending from AI solutions (Advantage +), accelerated monetization of messaging (business messaging, click-to-message advertising), and untapped assets (Meta AI, Threads). The bank raised the group's 2025 earnings per share by 6% to $25.78, revenue by 3% to $188 billion, and the target price accordingly rose from $630 to $660, reaffirming its "buy" rating.