Facebook’s rise in overall ad revenue helped the company beat Wall Street expectations on its quarterly earnings, but promises from the company to continue spending heavily in hiring and new initiatives kept investors from sending the stock price soaring. The company reported this week that its overall revenue increased 40 percent to $1.59 billion, compared to the $1.13 billion from the fourth quarter of 2011. Facebook’s net income dropped, however, falling to $64 million compared to $302 million from the same time a year earlier.
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Wall Street Gives Facebook the Skunk Eye
Posted by: Rachelle Dragani February 1, 2013 03:01 PMFacebook’s rise in overall ad revenue helped the company beat Wall Street expectations on its quarterly earnings, but promises from the company to continue spending heavily in hiring and new initiatives kept investors from sending the stock price soaring. The company reported this week that its overall revenue increased 40 percent to $1.59 billion, compared to the $1.13 billion from the fourth quarter of 2011. Facebook’s net income dropped, however, falling to $64 million compared to $302 million from the same time a year earlier.