Daily Report: Facebook's Lucrative Long View

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By Joseph Plambeck

January 28, 2016 9:32 amJanuary 28, 2016 9:32 am

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Mark Zuckerberg has told investors over and over: Don’t expect Facebook to focus much on quarterly earnings. The company is taking the long view.

That long view is sure looking spectacular in quarterly earnings.

The numbers Facebook released on Wednesday were almost completely positive. Revenue: way up. Profit: way up. Users: way up.

How did investors treat the stock? You guessed it — way up.

Somehow, though, Mr. Zuckerberg and Facebook still seem to have their eye on the long game. As Mike Isaac explains, the company is pouring money and energy into projects that seem far removed from Facebook.com. The company is working on virtual reality and even on building drones capable of delivering Internet service to far-flung places around the world.

Mr. Zuckerberg says that no one should expect those projects to make money anytime soon. At this point, that doesn’t seem to matter at all. One giant cash cow is enough.

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