Mark Zuckerberg, chief of Facebook, announced a 49% increase in revenue and an 87% increase in expenses compared to the previous year. Get the whole story in this article written by Vindu Goel of The New York Times.
Facebook Sales Beat Forecasts, but Expenses Increase Even Faster
SAN FRANCISCO — When Mark Zuckerberg warned investors three months ago that Facebook’s expenses were going to rise sharply, he really meant it.
The company reported on Wednesday that revenue increased 49 percent in the fourth quarter compared to the previous year, exceeding Wall Street’s expectations. But expenses rose even faster, up 87 percent from the same quarter a year ago, driven in part by a huge increase in stock payouts to employees. Read more…