Regions

Facebook makes capital investments worth US$1.6 billion this year

Close
July 28
7:12 AM 2013

Facebook, a social networking titan, would make capital investments worth US$1.6 billion this year. Industry watchers believed that Facebook would capitalize on the number of its users and its mobile advertising base.

For the first six months, the California-headquartered corporation incurred a capital expenditure of U$595 million. The amount was used in setting up its data centers and other storage infrastructures, among other things. Facebook also spent US$221 million on purchases and other assets like patents.

"We anticipate making capital expenditures in 2013 of approximately USD 1.6 billion," Facebook stated in a filing to the US Securities and Exchange Commission. The social network added that its venture capital plans for expanding its infrastructure would be furthered since the company was able to post strong results for the second quarter.

"Cash used in investing activities during the first six months of 2013 primarily resulted from USD 595 million for capital expenditures related to the purchase of servers, networking equipment, storage infrastructure and the construction of data centres," Facebook stated.

© 2022 VCPOST, All rights reserved. Do not reproduce without permission.
Tags
Share

Comments

Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics