Facebook's revenue, profit grow, but not as fast as its spending

New York

IT takes money, the adage goes, to make money. And Facebook is spending a lot of dollars to do just that.

The social media giant on Wednesday posted another quarter of robust revenue growth - up 41 per cent in the third quarter from a year earlier to US$4.5 billion - fuelled by its mobile advertising business and an increase in daily users. Net profit rose to US$896 million, up 11 per cent from a year ago.