Meta, the parent company of Facebook and Instagram, reported a record quarterly profit on Wednesday afternoon, as well as stronger-than-expected sales figures, despite a minor slow down in revenue growth. Overall, Meta’s net income jumped 35% year-over-year to $15.68 billion.

“We had a good quarter driven by AI progress across our apps and business,” Meta CEO Mark Zuckerberg said in a statement.

Zuckerberg, on the company’s earnings call on Wednesday afternoon, said 500 million users are now interacting with Meta’s AI chatbot, which offers answers to users on apps like Facebook and Instagram. He also said the company would continue to invest in the long-term future potential of AI, AR (augmented reality) and VR (virtual reality), despite growing concerns from investors over mounting losses at Meta’s Reality Labs division, which has booked losses of $24.2 billion over 2023 and 2024.

Here are the top-line results:

Revenues: $40.59 billion, up 19% from $34.15 billion in 2023. Meta’s Q3 sales topped analysts from Zack’s Investment Research estimated revenues of $40.21 billion. The company’s quarter-over-quarter revenue growth slowed from Q2, when the company reported a 22% annual jump in sales. As usual, the bulk of Meta’s sales — 96% — came from ads.

Net income: $15.68 billion, an increase of 35% compared to $11.58 billion the year prior. Meta’s diluted earnings per share of $6.03 beat Zack’s estimate EPS of $5.19. The company’s Q3 profit topped its previous record for quarterly net income, which it set during the fourth quarter of last year when it posted a $14 billion profit.

Daily active users: 3.29 billion DAUs across its family of apps — Facebook, Instagram, WhatsApp, and Threads — by the end of September, up 5% year-over-year. Meta added 30 million daily users quarter-over-quarter, although the company didn’t share how those gains broke down by app.

Threads: Zuckerberg said that Threads, the company’s social app that launched as a rival to X last year, now has 275 million monthly users. That’s up 37.5% from Q2, when the company said Threads was approaching 200 million monthly users. CFO Susan Li, on the company’s earnings call, said Threads has seen healthy growth in the U.S. and overseas markets including Taiwan. At the same time, Li said, “We don’t expect Threads to be a meaningful driver of 2025 revenue.”

Average price per ad: The average price of an ad on one of Meta’s apps increased 11% year-over-year, indicating the appetite for reaching users on Facebook and Instagram remains strong.

Head count: Meta reported 72,404 employees at the end of September, up 9% from the prior year. Meta’s growth stands out, as many tech companies, including TikTok, have cut jobs in recent months.