I'm not even sure that this is anything bad. I've yet to really work out how Facebook make a lot of income, let alone profit compared to the prodigious amount of storage and computing infrastructure they require.
I'd say that it's a huge amount of up front investment with the potential of getting returns that may repay all of this back. Eventually. In this case building up losses to offset against tax the following year (or years, depending on how you account for it) is perfectly correct and above board.
I'd never thought that I'd be defending Facebook, but on this point given their infrastructure costs compared to the likely trivial advertising income (at one point AIUI they got most of their income from idiots paying for in-game items in click-fest games), I'd not say that it's unreasonable. Unless of course they're making a pile of cash in this country and then "purchasing" services from another arm of the same group which is just a way of shifting profit from one tax regime to another.