‘Facebook’s spending spree is making investors nervous’ – ‘Mashable’
Seth Fiegerman says, “For the first time in several quarters, Wall Street didn’t like what Facebook had to say in its earnings report.
Facebook posted its first $3 billion quarter and beat earnings estimates for the September quarter, but concerns about the company’s plans to ramp up spending pushed the stock down by as much as 10% in after hours trading.
The stock was down by about 6% in early trading Wednesday, effectively shaving off more than $10 billion from the company’s market cap overnight”.
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