Facebook put the brakes on spending at the end of the year
Facebook clamped down on spending in a big way in the last three months of the year.
The company's operating expenses were down sequentially and year-on-year in all categories, as can be seen in the chart below. The spending discipline no doubt helped Facebook deliver a big earnings upside, topping even the most bullish analyst EPS target during the fourth quarter and resulting in $1.5 billion in net income.What's interesting is that 2015 was supposed to the year of investment for Facebook. The company had warned investors early on to expect a big uptick in spending, as it invested in new efforts like virtual reality and mobile messaging.
NOW WATCH: Hidden Facebook tricks you need to know
- The Oxford COVID-19 vaccine will only cost the Indian government $3 per dose, reveals Adar Poonawalla
- Former Assam CM Tarun Gogoi passes away at 84 due to post-COVID complications
- Fine for not wearing masks in Goa increased to ₹200
- Here's why former RBI governor Rajan and former deputy Acharya believe the plan to allow corporations to own banks is a 'bad idea'
- Maharashtra government wants a COVID-19 negative test report from passengers coming from Delhi, Gujarat, Rajasthan and Goa