Facebook CEO Mark Zuckerberg said the company expects to grow its headcount in 2013 as it invests in new products. Zuckerberg said the world's No.1 social network will be focussed on building the business for the long-term and will not be operating to maximise profit in 2013.
The company also doubled its mobile advertising revenue in the fourth quarter, a sign that the No.1 social network is seeing early success in expanding onto handheld devices as more of its users migrate to smartphones and tablets.
Investors want to see evidence that CEO Mark Zuckerberg's 8-year-old company is delivering on promises to develop a full-fledged mobile advertising business, a challenge facing many of today's technology leaders, including Google.
But the growth trailed some of Wall Street's most aggressive estimates. Shares of Facebook were down roughly 3 percent at $30.21 in after-hours trading on Wednesday, regaining ground after falling more than 8 percent immediately after the numbers were released.
The company also doubled its mobile advertising revenue in the fourth quarter, a sign that the No.1 social network is seeing early success in expanding onto handheld devices as more of its users migrate to smartphones and tablets.
Investors want to see evidence that CEO Mark Zuckerberg's 8-year-old company is delivering on promises to develop a full-fledged mobile advertising business, a challenge facing many of today's technology leaders, including Google.
But the growth trailed some of Wall Street's most aggressive estimates. Shares of Facebook were down roughly 3 percent at $30.21 in after-hours trading on Wednesday, regaining ground after falling more than 8 percent immediately after the numbers were released.
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