Facebook seems to be signaling that it’s ready for a spending binge. And investors don’t like the sound of it.
“We plan on 2015 being a significant investment year,” said David Wehner, the chief financial officer at the social media giant, when the company announced earnings after the markets closed. Shares tumbled. (They’re down roughly 9% after hours at last glance.)
That fall in the share price doesn’t look like it’s a result of the earnings themselves. The company had a pretty decent quarter, with sales up roughly 60% and unadjusted net income up roughly 90%.