• The Guardian, Thursday, April 23, 2015 6:46 AM

Facebook shares crashed in after-hours trading on Wednesday as the social media company narrowly missed Wall Street’s expectations. Releasing its first quarter results, Facebook said the company had taken in $3.54bn in revenue for the first three months of the year. Analysts had been expecting $3.56bn. The company’s ambitious expansion plans and the cost of integrating acquisitions contributed to a big rise in expenses. Expenses in the first quarter of 2015 were $2.61bn, an increase of 83% from the first quarter of 2014. 

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