SAN FRANCISCO (Reuters) – Facebook Inc’s big spending plans are facing a tough reception on Wall Street.
The Internet social networking company, which has dazzled with two years of breakneck revenue growth, is struggling to win support for plans to pump billions of dollars into infrastructure and businesses ranging from virtual reality headsets to satellites.
SAN FRANCISCO, Jan 28 (Reuters) – Facebook Inc’s
revenue grew 49 percent in the fourth quarter, as mobile
advertising growth helped the world’s largest Internet social
network beat Wall Street’s targets for earnings and sales.
But revenue growth was the weakest since the start of 2013,
and spending rose faster. Facebook shares fell about 2.6 percent
in after-hours trade after vacillating above and below the
By Jennifer Saba and Alexei Oreskovic
(Reuters) – This Super Bowl Facebook is taking a page from Twitter’s playbook, for the first time during a football championship selling ads that target people based on what they are talking about in real time.
These include video ads that will play automatically on Facebook’s newsfeed, triggered by key words that members mention in their posts as they watch the American football game on Feb. 1.
SAN FRANCISCO (Reuters) – Yahoo Inc (YHOO.O: Quote, Profile, Research) plans to spin off its 15 percent stake in China’s Alibaba Group Holding Ltd (BABA.N: Quote, Profile, Research), responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion.
Shares of Yahoo were up roughly 7 percent at $51.45 in after-hours trading on Tuesday, following the tax-free spin off announcement and earnings which just beat analysts forecasts even as its revenues slightly lagged estimates.
SAN FRANCISCO (Reuters) – Snapchat has partnered with CNN, ESPN and nine other media companies to feature videos and articles on its mobile messaging service, a move that heightens the competition with social networks such as Facebook Inc and Twitter Inc.
Snapchat’s new Discover service features individual “channels” for its various media partners that include five to 10 stories a day, according to Snapchat, which announced the move on its official blog on Tuesday.
SAN FRANCISCO (Reuters) – WikiLeaks criticized Google Inc on Monday, alleging that the company waited 2-1/2 years to notify members of the anti-secrecy group that it had turned over their private emails and other information to the U.S. government.
In a letter to Google, lawyers representing WikiLeaks said they were “astonished and disturbed” by Google’s actions relating to search warrants it received from federal law enforcement officials and asked for a full accounting of the information Google gave the government.
SAN FRANCISCO (Reuters) – Facebook Inc said on Tuesday it has taken steps to clamp down on “hoaxes” and fake news stories that can spread like wildfire on its 1.35-billion member online social network.
The company said it had introduced an option to allow Facebook users to flag a story as “purposefully fake or deceitful news” to reduce the distribution of news stories reported as hoaxes.
SAN FRANCISCO (Reuters) – With 1.35 billion users of its Internet social network, Facebook Inc would rank as the world’s second-most populous nation if it were a country.
While its users may populate only a virtual country, Facebook says it generates a lot of real economic activity – $227 billion worth of economic impact and 4.5 million jobs in 2014, according to a new study by consulting firm Deloitte & Touche [DLTE.UL] that Facebook commissioned.
SAN FRANCISCO/SEATTLE (Reuters) – Virtual reality goggles, drones and data centers are all driving a hiring spree at Facebook Inc (FB.O: Quote, Profile, Research, Stock Buzz) that is set to swell its ranks as much as 14 percent in the near term, according to a review of job listings on the company’s website.
The Internet social networking company aims to add nearly 1,200 new employees, the outgrowth of aggressive investments that executives have said will define the coming year.
SAN FRANCISCO (Reuters) – Facebook Inc (FB.O: Quote, Profile, Research, Stock Buzz) acquired a company that makes voice recognition technology for wearable devices and Internet- connected appliances, the latest sign of its ambition to extend its reach beyond computers and smartphones.
Facebook said it acquired wit.ai on Monday, without providing a price for the deal. The 18-month old company, based in Palo Alto, California, makes software that can understand spoken words as well as written text phrased in “natural language.”