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Facebook grows profit 7% in Q4 after sharp rise in operating costs, taxes

2020-01-29 22:52:00| Telecompaper Headlines

(Telecompaper) Facebook reported a stronger increase in costs than revenue in the fourth quarter, leading to a slowdown in its profit growth. Revenues were up 25 percent to USD 21.1 billion, while operating costs jumped 34 percent to USD 12.2 billion. Along with a sharp increase in taxes, net profit rose just 7 percent, to USD 7.3 billion or USD 2.56 per share. 

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