Facebook Revenue Tops Estimates; Shares Drop as Spending Surges
Should Investors Focus on Facebook’s Active Users?
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Facebook Inc., buoyed by robust advertising sales, signaled that it will keep up its brisk pace of investments to attract users and advertisers.
Spending climbed 82 percent in the second quarter as the social-media company increased hiring, poured money into data centers and boosted marketing. While that was more than double the rate of sales growth, Facebook still managed to top analysts’ revenue estimate, crossing the $4 billion mark for the first time.