Meta Platforms said Wednesday that its third-quarter profit jumped more than threefold, as the social media giant's revenue climbed sharply.

The parent company of Facebook and Instagram reported net income of $9. 86 billion, or $3. 83 per share, for the July-September period.

That's up from a profit of $2. 71 billion, or $1. 05 per share, in the same period a year earlier.