Facebook Profits Drop But Why The Panic?
Facebook seen a drop in profits in the last 3 months of the year. Only $64m, compared with $302m from the same time last year. However this was partially down to spending more on research and development. Shares in the company dropped 6% in after hours trading in New York, but why? With $1.3bn from advertising, a 41% up from the previous year, it shows that businesses are still willing to invest in Facebook Ads. Sounds like traders in New York are still a bit nervous of the company.