Facebook shares fall after spending warning
October 29 , 2014
Facebook has warned of a sharp increase in its spending next year and a slowing down of revenue growth in the fourth quarter, according to media reports.
The firm’s shares fell nearly 10% in after hours trade after its statement that next year's expenses would be up to 75% more.
The social networking company reported $3.2 billion in revenues for the third quarter, comfortably ahead of analyst forecasts.
Facebook also reported a profit of $806 million, a 90% increase compared to last year.