BUSINESS
May 17, 2013 | By Hayley Tsukayama and Dina ElBoghdady
After a market debut marred by technical glitches and a deep dive in the company's stock price, Facebook has spent the past year focused on its biggest weaknesses: how to make money and keep its more than 1 billion users tethered to the social network. The results have been mixed. The company's stock price has recovered some of its worst losses, and Facebook has announced several moneymaking initiatives. But the circumstances surrounding the IPO are still under investigation by the Securities and Exchange Commission, and some investors remain...
BUSINESS
May 13, 2013 | By Hayley Tsukayama
It has been only a month since Mark Zuckerberg , Facebook's co-founder and chief executive, pulled together an impressive roster of tech executives to advocate for immigration reform through FWD.us , a nonprofit lobbying organization. But the group is already losing some of its star power. Some environmental groups are complaining that FWD.us has funded television ads supporting politicians who back construction of the Keystone XL oil pipeline and...
BUSINESS
May 2, 2013 | By Max Ehrenfreund
Facebook's quarterly earnings announcement Wednesday included good news and bad news for investors. The social media company's subscribers and advertising revenue on mobile devices increased, but profits during the last quarter did not meet projections : Revenue increased to $1.46 billion, a 38 percent jump from the same period last year but lower than the 40 percent increase the company reported in the previous quarter. The firm reported net income of $219 million,...
BUSINESS
May 1, 2013 | By Hayley Tsukayama
Facebook profits rose with growth on mobile devices but missed forecasts for the quarter, the company announced Wednesday afternoon. Revenue increased to $1.46 billion, a 38 percent jump from the same period last year but lower than the 40 percent increase the company reported in the previous quarter. The firm reported net income of $219 million, lower than the $308 million analysts had expected. The company had warned last quarter that its profits would dip under higher expenses.
BUSINESS
May 1, 2013 | By Max Ehrenfreund
Facebook has rejected an advertisement criticizing Mark Zuckerberg, the company's founder, for his political activities. Along with other leaders in the technology industry, Zuckerberg is supporting Fwd.us, a political group that has funded advertisements praising Sen. Lindsey Graham (R-S.C.). Graham supports the proposed Keystone XL pipeline, and CREDO Mobile, a politically active phone company, took issue with Zuckerberg for backing the senator, Hayley Tsukayama writes: The most recent...
BUSINESS
April 30, 2013 | By Hayley Tsukayama
Facebook has rejected an advertisement from a group criticizing the actions of Fwd.us, the political group started by Facebook chief executive Mark Zuckerberg and several other prominent members of the technology community. CREDO Mobile, a mobile carrier that lobbies on progressive issues, has been an outspoken critic of the Keystone XL Pipeline. It has launched a campaign to protest ads funded by Zuckerberg's lobbying group, Fwd.us, that support pipeline proponent Sen. Lindsay Graham...