Expectations were high for Facebook going into second-quarter results, and the social media giant’s revenue didn’t disappoint. However, an 82% jump in spending weighed on the stock.
Facebook’s strong mobile ad business helped the company beat estimates for revenue, after narrowly missing revenue forecasts in the first quarter. However, Facebook’s stock fell about 3% in after-hours trading after closing up 1.8%, in reaction to the social network’s bump in expenses.
from Forbes – Tech http://ift.tt/1DbI7ou
via IFTTT