Facebook earnings rise despite higher costs

Facebook Inc. on Wednesday reported an 11% increase in third-quarter earnings, despite spending heavily on projects as varied as artificial intelligence, virtual reality and bringing Internet access to emerging markets. Revenue rose 41% to $4.5 billion, from $3.2 billion in the same period a year earlier, as companies spent more to advertise across the social network. But total costs and expenses increased an even faster 68%. The results reflect the progress Facebook has made in attracting ad dollars, particular for video ads. Advertising-technology company SocialCode says its clients’ spending on Facebook video ads tripled during the first three quarters of 2015 compared with the same period in 2014. RBC Capital Markets says 61% of marketers surveyed in September said they plan to spend more on Facebook next year. Shares of…


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