Meta Outpaces Google in the Race for Ad Revenue Growth

JPMorgan has upgraded its outlook on Meta Platforms, adding the stock to its list of preferred picks—replacing Alphabet—supported by a robust 26% year-over-year growth in third-quarter ad revenue. The bank also highlighted Meta’s effective use of artificial intelligence to enhance ad targeting and boost conversion rates.

The bank believes Meta holds promising opportunities to generate additional revenue through AI-driven products, with projections suggesting that ad revenue from Meta’s family of apps could surpass Google’s search advertising revenue in the fourth quarter and beyond.