NPR logo

Facebook Releases Quarterly Earnings Report

  • Download
  • <iframe src="https://www.npr.org/player/embed/180491238/180491229" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Facebook Releases Quarterly Earnings Report

Business

Facebook Releases Quarterly Earnings Report

Facebook Releases Quarterly Earnings Report

  • Download
  • <iframe src="https://www.npr.org/player/embed/180491238/180491229" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The company showed a profit of nearly $220 million for the quarter but it fell short of analysts' expectations. CEO Mark Zuckerberg blamed the missed target on higher costs. Company spending is up 60 percent this quarter over the previous one due to hiring and new developments.

RENEE MONTAGNE, HOST:

NPR's business news starts with profits for Facebook.

(SOUNDBITE OF MUSIC)

MONTAGNE: Facebook announced its latest quarterly results, reporting revenues just under $1.5 billion.

DAVID GREENE, HOST:

The company showed a profit of nearly $220 million for the quarter but this fell short of analysts' expectations. CEO Mark Zuckerberg blamed the missed target on higher costs. Company spending is up 60 percent this quarter over the previous one due to hiring and new developments.

MONTAGNE: But the investments seem to be paying off with Facebook's mobile strategy. It has more than 750 million active mobile users and mobile advertising now accounts for 30 percent of Facebook's ad sales.

Copyright © 2013 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.