Facebook profit falls 9 percent as costs soar

[Wireless News]

http://l1.yimg.com/bt/api/res/1.2/qRIjA0Z0wDtk8WBbHRsaDQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9NzU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2015-07-29T200803Z_1006950002_LYNXNPEB6S111_RTROPTP_2_CBUS INESS-US-FACEBOOK-RESULTS.JPG (http://news.yahoo.com/facebook-profit-falls-9-percent-costs-soar-204016923--finance.html)(Story corrects second-last paragraph to say $330 million instead of $33 million) By Devika Krishna Kumar and Yasmeen Abutaleb (Reuters) - 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. "We're investing in the next set of services and what will be future investments like Messenger, WhatsApp and Oculus," Chief Operating Officer Sheryl Sandberg said in an interview on Wednesday after the earnings report. Messenger has more than 700 million users, and the app has been downloaded more than 1 billion times on Android, Google Inc's mobile operating system, Facebook said.



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