Can Facebook Break Out?
T = Trends for a Stock’s Movement
Facebook is engaged in building social products in order to create utility for users, developers, and advertisers. People use Facebook to stay connected with their friends and family, to discover what is going on in the world around them, and to share and express what matters to them with the people they care about. Developers can use the Facebook platform to build applications and websites that integrate with Facebook to reach its global network of users, building personalized and social products. Advertisers can engage with more than 900 million monthly active users on Facebook — or subsets of its users — based on information they have chosen to share.
Social networking giant Facebook has reported profits of $642m during the first-quarter of 2014, beating analyst expectations. The firm said that a surge in mobile advertising helped push revenues 72 percent higher, to $2.5bn in the January-to-March period. Mobile now makes up 59 percent of advertising revenue, from 30 percent a year ago. Facebook also announced chief finance officer David Ebersman will be stepping down after five years at the company. Mr. Ebersman, who will remain with the company until September, said he plans to return to the healthcare industry. He will be replaced by David Wehner, Facebook’s vice president for corporate finance and business planning, and the former chief financial officer at games company Zynga (NASDAQ:ZNGA). “Facebook’s business is strong and growing, and this quarter was a great start to 2014,” said founder and chief executive Mark Zuckerberg in a statement. “We’ve made some long term bets on the future while staying focused on executing and improving our core products and business. We’re in great position to continue making progress towards our mission.” Shares of Facebook rose as much as 4.3 percent in after-hours trading.