Internal documents from Meta Platforms, Inc. (NASDAQ:META) reportedly indicate a policy designed to protect high-spending advertisers from automated content moderation.

What Happened: The documents from 2023 reveal that Meta implemented "guardrails" to protect top advertisers, reported Financial Times.

These measures included suppressing automated detections based on advertising spend, with some accounts being reviewed manually instead.

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A group termed "P95 spenders," spending over $1,500 daily, were noted as exempt from standard advertising restrictions, the report noted.

Meta's spokesperson, Ryan Daniels, refuted the report, stating it was "simply inaccurate" and based on a selective interpretation of the documents.

Meta acknowledged using "higher spend" as a guardrail due to the potential impact of mistakenly removing high-reach ads.

The company maintained that all advertisers are subject to the same standards, with no exemptions from its rules, the report stated.

Meta did not immediately respond to Benzinga's request for comments.

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Why It Matters: Advertising is a significant revenue source for Meta, contributing nearly $135 billion in 2023.

In October 2024, Meta reported third-quarter revenue of $40.59 billion, surpassing analyst expectations of $40.29 billion. Ad impressions rose by 7% compared to the previous year, while the average price per ad increased by 11% year-over-year.

This revelation comes at a time when Meta is shifting its content moderation strategy. Earlier this week, Meta CEO Mark Zuckerberg announced a move towards a Community Notes style of moderation, similar to Elon Musk's X.

This change follows a report that Meta's platforms were promoting illegal gun silencers, despite policies against such ads.

Price Action: Meta's stock fell by 1.16% on Thursday and dropped an additional 0.34% in after-hours trading, settling at $608.64. Despite the dip, the company's shares have risen by 3.58% year-to-date, according to data from Benzinga Pro.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.