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Facebook revenue growth slows, costs weigh on profit

Facebook revenue growth slows, costs weigh on profit (Reuters) - Facebook Inc posted its slowest growth in quarterly revenue in two years and higher spending on research and development ate into profits. Shares of the world's largest Internet social network fell 2 percent in after-market trading on Wednesday. Facebook has warned of heavy investments in 2015 as it steps up efforts to expand a collection of products that include messaging service WhatsApp, photo-sharing service Instagram and virtual reality headset maker Oculus Rift. As a result, Facebook's operating expenses rose 83 percent in the first quarter as R&D costs jumped 133 percent and marketing and sales spending nearly doubled. However, Facebook said monthly active users grew 13 percent over a year ago to 1.44 billion, with 87 percent of them accessing its service on smartphones and other mobile devices. "It's a generally solid quarter.

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Donald J. Trump's appointment of Betsy DeVos as the Secretary of Education nominee evoked a generally negative reaction from university students, who criticized her stances on campus sexual assaults, charter schools and the privatization of education.
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Donald J. Trump's appointment of Betsy DeVos as the Secretary of Education nominee evoked a generally negative reaction from university students, who criticized her stances on campus sexual assaults, charter schools and the privatization of education.

A campaign plane that had been carrying U.S. Republican vice presidential nominee Mike Pence rests in the grass after it skidded off the runway while landing in the rain at LaGuardia Airport in New York, U.S.,October 27, 2016. REUTERS/Lucas Jackson
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USA-ELECTION-PENCE

A campaign plane that had been carrying U.S. Republican vice presidential nominee Mike Pence rests in the grass after it skidded off the runway while landing in the rain at LaGuardia Airport in New York, U.S.,October 27, 2016. REUTERS/Lucas Jackson

Senator Tim Kaine (D.-Va), left, and Governor Mike Pence (R.-In) will debate tonight at the first vice-presidential debate on CNN. Political science professor Michael Rossi said the winner might just be whoever is less annoying at the podium.
NEWS

Senator Tim Kaine (D.-Va), left, and Governor Mike Pence (R.-In) will debate tonight at the first vice-presidential debate on CNN. Political science professor Michael Rossi said the winner might just be whoever is less annoying at the podium.

U.S. President Barack Obama (right) tours the Vaccine Research Center with Dr. Nancy Sullivan (left), U.S. Secretary of HHS Sylvia Burwell (far left), and Dr. Anthony Fauci (far right) to talk about Ebola, during a visit to the National Institutes of Health in Bethesda, Maryland, yesterday.
NEWS

U.S. President Barack Obama (right) tours the Vaccine Research Center with Dr. Nancy Sullivan (left), U.S. Secretary of HHS Sylvia Burwell (far left), and Dr. Anthony Fauci (far right) to talk about Ebola, during a visit to the National Institutes of Health in Bethesda, Maryland, yesterday.

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