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Facebook revenue rises 40% in 4th quarter as profit falls 79%
Despite a 40 percent fourth-quarter revenue jump to $1.59 billion, Facebook's profit fell 79 percent, weighed down by spending on new initiatives and charges related to employee stock, the Wall Street Journal reported.
The Internet social networking giant is making progress squeezing more money from advertisers on mobile devices, the Journal reported, but not enough to shake "the burden of Wall Street expectations."
IN FOCUS TODAY
Wednesday, May 22, 2013 - 6:35am
WYPR's Fraser Smith and political consultant and columnist Laslo Boyd talk about how Baltimore...
Tuesday, May 21, 2013 - 4:44am
For Baltimore businesses, this is "Clean Your Files" day, part of the city's campaign to...
Monday, May 20, 2013 - 6:35am
WYPR's Fraser Smith and Luke Broadwater of the Baltimore Sun talk about the Baltimore City...