Facebook profits plunge by 80%

31 January 2013 Last updated at 06:28 ET Help

It may have more than one billion users, but Facebook announced a plunge in its profits of around 80% to $64m (£40.4m) in its second earnings update on Wednesday night.

Advertising revenue is now worth about $1.6bn (£1bn), and much more of it is coming from mobile users - but the amount Facebook is having to invest to get that advertising has Wall Street worried.

Michelle Fleury reports from New York.

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