The actions of Goalthe former Facebook, rose this Thursday morning up to 15% in reaction to the announcement of its quarterly results yesterday afternoon in which the company led by Mark Zuckerberg announced a drop in profits of 21% year-on-year due to the increase in expenses, especially in research and development.
However, their actions continue around a 40% off price that they marked at the beginning of the year, as a consequence of the fears for the increase of the inflation, the rise in interest rates by the US central bank and the war in Ukraine. At 10:37 local time (14:37 GMT), the rise in shares stood at 12.03% The technology giant had net profits of 7,465 million dollars during the first quarter of fiscal year 2022, compared to 9,497 million in the same period of the previous year.
It also noted that the number of active users increased from 1.93 billion to 1.96 billion in the first quarter. Regarding billing, Goal -which in addition to Facebook owns Instagram, WhatsApp, Messenger and Oculus- entered 27,908 million dollars, 7% more than in the first quarter of 2021, but its expenses skyrocketed much more, specifically 31%.
Read: Facebook continues to fall on the stock market and already loses 40% so far this year
The increase in expenses was mainly due to investment in research and development, an item to which it allocated $2.5 billion more than in the first quarter of 2021, and which was followed by marketing, sales and administrative costs.
This 7% turnover growth is the lowest figure recorded by Goal since the company went public, under the Facebook name, in 2012.
