By Daniel Hunter
It already makes hundreds of millions of dollars in quarterly profits, but Facebook is set for a massive increase on spending, according to Mark Zuckerberg.
Facebook has already increased spending massively this year; acquisitions like WhatsApp, which cost $19 billion, and Oculus Rift contributed a huge increase in spending in the quarter. But it announced plans to up spending by 75% in 2015.
Shares fell by 10% after the social networking giant announced better-than-expected figures for the third quarter, insisting that similar numbers are unlikely in the fourth quarter.
Facebook revenues of $3.2bn (£1.98bn) for the third-quarter and profits of $806m - a 90% increase on the same period in 2013.
"This has been a good quarter with strong results," said Mark Zuckerberg, Facebook founder and chief executive.
Mobile advertising is becoming increasingly vital to Facebook's revenue growth. It now accounts for two thirds of its entire advertising revenue. Mobile ads brought it absolutely no revenue at all for Facebook just two years ago.
Facebook also saw a 14% rise in the number of active users. It now has 1.35 billion people actively using the social networking every month. There was also a 19% rise in the number of people checking their Facebook at least once a day - it now has 864 million.
"We believe that we have very substantial growth opportunities in front of us and we plan to invest aggressively to capitalise on those opportunities," said Facebook chief financial officer, Dave Wehner.
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