Meta's Europe Ad Growth Slows 18%

Meta's advertising revenue in Europe grew just 18% year-on-year through September, a sharp drop from the 33% growth seen in the U.S. and Canada, analysts say. The slowdown began after the company rolled out a Less-Personalized Ads option last year, a move required by the EU Digital Markets Act that also cost Meta a €200 million fine. The new ads use 90% less personal data, which has made them less effective and lowered the price advertisers are willing to pay. CFO Susan Li warned that this is an additional headwind but said the firm still has "a lot of runway" to boost ad conversions with AI. Meta's Q3 revenue hit $64.60 billion, beating estimates, yet its shares slipped 2% in pre-market trading.