Facebook Rolls Out Wi-Fi Test and 4 Social Media Stocks See Action
Facebook, Inc. (NASDAQ:FB): The social network is testing a project called Facebook Wi-Fi that provides free Internet access to customers who have a Facebook account. This will allow them to “check-in” at participating businesses. It is being tested out with businesses such as retail stores and coffee shops near Facebook’s California headquarters, in Menlo Park, who are using a router that has been provided free of charge. When customers come into a business’s location and attempt to access their Wi-Fi network, they can do so by simply using Facebook’s “Check In” feature.
LinkedIn Corporation (NYSE:LNKD): LinkedIn Corporation’s sales rose 81% from a year ago to $252 million, with strong growth coming from all three of their businesses including ad sales to marketers, premium subscriptions for their members and online-recruitment services sold to firms looking for job candidates. In comparison, Facebook revenue rose 32% to $1.26 billion, with ad sales contributing to the overwhelming amount of the total, with the company’s payments business accounting for the rest. Facebook is still five times the size of LinkedIn by revenue, however, LinkedIn is growing 2.5 times faster than their larger rival.
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Groupon, Inc. (NASDAQ:GRPN): According to a pole by FactSet, analysts expect to see Groupon, Inc. earn 4c per share on revenue of $592.1 million.
Pandora Media, Inc. (NYSE:P): Pandora Media, Inc. announced new metrics that were reached in the month of October. There were 1.25 billion listener hours which is an increase of 65% from 754 million for the same period last year. Shares of total United States radio listening for Pandora in October was 6.55%, an increase from 4.27% for same time last year. By the end of the month, there was an increase of 47% from 40.3 million during the same time period last year.
Zynga, Inc. (NASDAQ:ZNGA): If you love playing Farmville, Cityville, and the other “Villes” provided by social media gaming colossus Zynga, some alleged members of Anonymous could have you shaking in your boots. A video posted to YouTube claimed that the collection of hackers will close San Francisco’s Zynga as well as social media giant Facebook. The video was quickly removed, possibly due to copyright infringement.
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