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Facebook (FB) - Get Meta Platforms Inc. Class A Report shares were rising 3% in after-hours trading Wednesday after the social media giant posted better-than-expected earnings.

Facebook reported earnings per share of $2.12 versus consensus estimates of $1.91, while quarterly revenue of $17.65 billion beat estimates for $17.37 billion. 

At the end of the third quarter, Facebook reported daily active users of 1.62 billion, an increase of 9% year-over-year, and monthly active users of 2.45 billion, an increase of 8%. The company estimates that 2.2 billion people use Facebook, Instagram, WhatsApp, or Messenger every day on average, and around 2.8 billion people use at least one of those apps each month. 

"We had a good quarter and our community and business continue to grow," said Facebook CEO Mark Zuckerberg in a press release. "We are focused on making progress on major social issues and building new experiences that improve people's lives around the world."

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The $17.65 billion quarterly revenue figure represents a year-over-year increase of 29%, and places its ARPU (average revenue per user) at $7.26, compared to $7.09 expected by analysts. 

In addition, Facebook reported cash, cash equivalents and marketable securities were $52.27 billion as of the close of the quarter. 

Facebook shares are up 39% so far this year. 

Facebook is a holding in Jim Cramer's Action Alerts Plus portfolio.

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