Tag: Facebook

Facebook shares drop despite reporting outstanding quarterly results

Marivic Cabural Summers
Facebook

Facebook (NASDAQ: FB) reported outstanding first quarter financial results, but its shares fell instead of going up during the extended trading hours on Wednesday. The social network giant’s stock declined 2.5% to $148.01 per share—a sign that investors are concerned about the company’s financial performance in the future. During the first three months of the year, Facebook generated earnings of $1.04 per share, up 7% from $0.60 per share in the year-ago quarter. Its revenue rose 49% from $5.38 billion to $8.03 billion. The social network giant exceeded the $0.87…

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Facebook, Oculus, others to pay ZeniMax $500 million in VR lawsuit

Marivic Cabural Summers

Facebook (NASDAQ: FB), Oculus together with other defendants were ordered by a jury to pay a combined $500 million to ZeniMax Media in a lawsuit involving its virtual reality (VR) technology. Facebook purchased Oculus for $2 billion in a cash and stock deal in 2014. The social network giant made the acquisition because its CEO Mark Zuckerberg believes that virtual technology would be the next great evolution and Oculus has the potential to become the most social platform. The video game publisher accused Oculus, its founder Palmer Luckey, CEO Brendan…

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Facebook to Stop Support for BlackBerry 10

Marivic Cabural Summers
Facebook

Facebook (NASDAQ:FB) decided to end its support for the essential APIs of BlackBerry 10. WhatsApp first made the decision to discontinue support for the platform by the end of 2016. Facebook is the owner of WhatsApp, which also decided to stop its support for Android 2.1, Android 2.2, BlackBerry, Nokia S40, Nokia Symbian S60, and Windows 7.1 by the end of the year. Last month, WhatsApp explained that its decision was tough, but it was the right thing to do to provide a better experience for its users. The company…

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Facebook Enhances Tax Transparency in United Kingdom

iRebyu Staff
Facebook

Facebook Inc. (NASDAQ: FB) decided to change its corporate structure in the United Kingdom to improve transparency on its operations particularly on taxes. The social network giant said it would no longer book sales to major clients in the United Kingdom through its subsidiary in Ireland. Facebook’s decision came after the British government implemented a new tax law on profits diverted offshore. In a statement, the social network giant said “UK sales made directly by our UK team will be booked in the UK, not Ireland. Facebook U.K. will then…

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Facebook Faces Antitrust Investigation in Germany

Marivic Cabural Summers
Facebook

The federal competition authority (Bundeskartellamt) in Germany is investigating Facebook (NASDAQ:FB) based on its suspicion that the company abused its dominant position in the social networking market. According to the Bundeskartellamt, its investigation is focused on how Facebook’s subsidiary in Ireland and Germany used its specific terms of services pertaining to users’ data. The German federal competition authority suspected that Facebook’s terms of use are in violation of data protection laws. There is a possibility that the company abused its dominant position in the social network market by using of…

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Zuckerberg Addresses Racial Insensitivity at Facebook Headquarters

Marivic Cabural Summers
Facebook CEO Mark Zuckerberg

Facebook (NASDAQ:FB) CEO Mark Zuckerberg addressed the racial insensitivity happening at Facebook headquarters in a memo to employees.  He noted that some employees crossed out the “Black Lives Matter” on the company’s walls and wrote “All Lives Matter.” Zuckerberg wrote,” Despite my clear communication at Q&A last week that this was unacceptable, and messages from several other leaders from across the company, this has happened again.” “I was already very disappointed by this disrespectful behavior before, but after my communication I now consider this malicious as well,” he said. Zuckerberg…

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Facebook Extends Like Button with Reactions

Marivic Cabural Summers
Facebook Reactions

Facebook (NASDAQ:FB) launched Reactions, an extension of the Like button to allow users express their emotions to a particular post.  The Reactions feature is now available worldwide. In September last year, Facebook CEO Mark Zuckerberg said, “It’s important to give people more option than just “Like” to help express empathy or sympathy. Not every moment is a good moment.” Many people have been asking the social network giant to add a dislike button, but hesitated to do it. The company was concerned that a dislike button might cause discontent among…

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Facebook to Start Testing Internet Drone to Expand Access to Billions of People

iRebyu Staff

Facebook (NASDAQ: FB) will continue its efforts to provide internet access to billions of people that are still unconnected worldwide despite its recent setback in India, according to the company’s CEO Mark Zuckerberg. During the Mobile World Congress in Barcelona on Monday, Zuckerberg said, “Facebook isn’t a company that hits a roadblock and gives up. We take the hits that we get and try to learn from them and just do better.” The Telecom Regulatory Authority of India prohibited the social network giant from offering Free Basics through its partner,…

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France to Facebook: Stop Collecting Data from Non-Users

iRebyu Staff
Facebook

The French privacy watchdog ordered Facebook (NASDAQ: FB) to stop collecting data from people who do not have user account with the social network giant. In a statement, the Commission Nationale de l’Informatique et des Libertés (CNIL) said Facebook failed to comply with the French Data Protection Act based on its onsite and online investigation and documentary audit on the company’s privacy policy. The CNIL and the data protection authorities in Belgium, Hamburg, Spain, and the Netherlands made a decision to investigate the social network giant’s the data collection activities.…

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