SAN FRANCISCO (AFP) ― Facebook Tuesday reported its quarterly profit nearly doubled but saw its stock pounded after outlining a plan to invest heavily in the future instead of reveling in short-term riches.

Facebook shares, which had been near record levels in recent days, dropped more than nine percent to $73.29 in after-market trades.

The drop followed an earnings call in which executives said they will pour money into talent and technologies with the potential to pay off handsomely down the road.

Looking a decade out, Facebook founder and chief Mark Zuckerberg envisioned hitting milestones regarding machine intelligence and extending Internet access to billions more people on the planet.

“We are going to continue preparing for the future by investing aggressively, connecting everyone, understanding the world, and building the next-generation in computing platforms,” Zuckerberg said.

“We have a long journey ahead.”

Facebook shares sank despite the social network besting earnings expectations, boasting a gain in users and a surge in mobile ad revenue.

Facebook said it made $802 million in profit for shareholders on revenue of $3.2 billion in the quarter that ended on Sept. 30, while the number of monthly active users grew to 1.35 billion worldwide.

“This has been a good quarter with strong results,” Zuckerberg said.

“We continue to focus on serving our community well and continue to invest in connecting the world over the next decade.”

The number of people using mobile devices to connect with Facebook rose to about 1.12 billion in September, a 29 percent increase from the same month a year earlier, according to the earnings report.

Facebook took in $2.96 billion from advertising during the quarter, with marketing messages served up on mobile devices becoming more important.

Mobile represented 66 percent of advertising revenue for the third quarter of 2014, up from 49 percent a year earlier.

Payments and other fees generated $246 million, a 13 percent increase from the same quarter last year.

Facebook has made a priority of adapting to lifestyles increasingly centered on getting online using smartphones or tablets, an adjustment deemed by analysts as critical for Internet firms that want to remain popular.