(Reuters) – Facebook has in the first quarter the lowest growth in quarterly revenue in two years, accompanied by an increase in spending on research and development (R & amp; D) have eroded its profits.
The work of the Social network lost up to 3.1% in after-hours trading Wednesday.
Facebook warned that the year 2015 would be a year of heavy investment to help develop a series of products, including mobile messaging service WhatsApp, the photo-sharing service Instagram and designer of Oculus Rift virtual reality helmets.
Its operating expenses increased 83% in the first quarter, with soaring costs of R & amp; D 133%, and a near doubling of spending on marketing and sales
The company announced it. had 1.44 billion monthly active users, 87% on mobile devices.
Net income, group share, came out lower at $ 509 million (474,550,000 d euros), or 18 cents per share, in the first quarter to 31 March, against 639 million, 25 cents per share, a year earlier. Excluding items, Facebook earned 42 cents per share.
Its revenue rose to 3.54 billion against $ 2.50 billion in the first quarter of 2014. Income from advertising has reached $ 3.32 billion, up 46% compared to the same period last year.
Analysts on average expected a profit of 40 cents per share and revenue of $ 3.56 billion.
(Bill Rigby in Seattle and Abhirup Roy in Bangalore, Juliette Rouillon for the French service)
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