Facebook to increase spending up to 70% to invest in new products

Facebook CEO Mark Zuckerberg announced that the company's spending would increase between 50 and 70 percent next year as the brand hires more employees and invests in newer products. Zuckerberg projected that fourth-quarter sales will fall short of analysts' predictions, but did not seem too concerned with revenue and expenses, focusing instead on new opportunities for the social network, which are unlikely to turn a profit for several years. His ultimate goal: connecting the whole world on the Web. Story

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