The Presidential Daily Brief


  1. Facebook’s Costs Soar as It Pushes Ahead

    Call it growing pains. The social network’s expansion into an app empire is pushing up against a rallying dollar, increasing operating costs by more than 80 percent in 2015. While beating earnings forecasts, Mark Zuckerberg’s baby saw first-quarter revenues slip below expectations for the first time, reporting $3.5 billion, notably still up 42 percent from last year. Stocks slipped in after-hours trading, but most analysts think new revenue streams — ads and mobile apps — will keep investors on the firm’s list of friends.

    FT (sub), USA Today

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