Facebook profit falls 9 percent as costs soar

Facebook Inc reported quarterly revenue that beat forecasts but its profit fell 9 percent as the social media company sharply increased spending to boost mobile revenue and future growth. “We're investing in the next set of services and what will be future investments like Messenger, WhatsApp and Oculus,” Chief Operating Officer Sheryl Sandberg said in an interview on Wednesday after the earnings report. Messenger has more than 700 million users, and the app has been downloaded more than 1 billion times on Android, Google Inc's mobile operating system, Facebook said

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Facebook COO says mourning over husband left her ’30 years sadder’

By Yasmeen Abutaleb SAN FRANCISCO (Reuters) – Facebook's Chief Operating Officer Sheryl Sandberg took to the social media site on Wednesday to say she felt “thirty years sadder” after the 30-day mourning period she observed following her husband's sudden death. Sandberg's husband, SurveyMonkey Chief Executive Dave Goldberg, died on May 1 after falling off a treadmill during a vacation in Mexico.

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Facebook raises minimum pay for contractors to $15 per hour

By Yasmeen Abutaleb NEW YORK (Reuters) – Facebook raised wages for its contract workers, such as cafeteria staff and janitors, to a minimum of $15 per hour amid rising tension over the wage gap between the technology sector's elite and the lower-paid workers. Contractors will also receive a minimum of 15 days of paid vacation days and a $4,000 new child benefit for parents who do not receive parental leave, Chief Operating Officer Sheryl Sandberg said in a Wednesday post on Facebook

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