(MENAFN) Facebook Inc. reported quarterly revenue that beat forecasts, but its profit fell 9 percent as the social media company sharply increased spending to boost mobile revenue and future growth.
Expenses will grow 55 percent to 60 percent in 2015 from last year, including an 82 percent jump in the second quarter's to USD2.77 billion, the world's no. 1 social website said in a statement.
For the quarter, revenue jumped to USD4.04 billion from USD2.91 billion. Net income attributable to stockholders fell to USD715 million from USD788 million registered a year earlier.
"We're investing in the next set of services and what will be future investments like Messenger, WhatsApp and Oculus," Chief Operating Officer said after the earnings report.
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