(MENAFN) Facebook's profit almost doubled in the third quarter, but its stock was hit after it outlined a plan to invest heavily in the future instead of reveling in short-term riches, AFP reported.
The drop followed an earning call in which executives said they will pour money into talent and technologies with the potential to pay off handsomely down the road, the popular site said.
"We are going to continue preparing for the future by investing aggressively, connecting everyone, understanding the world, and building the next-generation in computing platforms," Facebook founder said.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.