Court Orders to Pay Facebook Sex Offender Damages
Feb 21 15
A Co Derry man ordered to pay a convicted paedophile compensation by a judge has vowed to go to jail before handing over the cash. In ruling at Belfast High Court Limavady man Joe McCloskey (38) and Facebook were ordered to pay the sex offender damages of £20,000, while Facebook was ordered to pay an additional £5,000. The court has also ordered that the 'Keeping Our Kids Safe From Predators 2' Facebook page be taken down.
Facebook Confirms Big Expansion to Dexter Station
Feb 18 15
Facebook confirmed that it was moving its Seattle office to Dexter Station, a soon-to-be-completed office tower at 1101 Dexter Ave. N. Facebook will more than double its Seattle office footprint with the move. The company has signed a lease for 274,000 square feet in the building, with an option to lease an additional 62,000 square feet. Facebook Seattle, which now has more than 500 employees and is growing rapidly, will relocate from its office in the Metropolitan Park East tower 1730 Minor Ave., in early 2016. Facebook is about to move onto two more floors in its current office in the Metropolitan Park East tower, meaning it will occupy six floors for a total of 96,000 square feet. But even with the additional floors, it's feeling a bit like a sardine can for employees. The new office will give the Menlo Park-based company room to massively expand its Seattle workforce. The company will not hire 1,500 people in one fell swoop, but will steadily increase the Seattle headcount over time. Facebook will occupy almost all of the 340,000-square-foot Dexter Station building. The company hasn't determined how many floors it will occupy in the building. Facebook's expansion signals its investment and commitment in Seattle.
TLI Communications Gmbh Files Patent Infringement Lawsuit Against Facebook Inc. and Facebook Ireland Limited in Germany
Feb 17 15
Patent Group, Inc. announced that TLI Communications GmbH has filed a patent infringement lawsuit against Facebook Inc. and Facebook Ireland Limited in the Regional Court of Munich in Germany. TLI Communications is asserting infringement of the German part of European patent 0 814 611 B1 by the social media platform 'Facebook' operated by the defendants, as well as the associated application software for smartphones and tablet computers.
Facebook, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Provides Financial Guidance for the Full Year of 2015; Provides Tax Rate Guidance for the First Quarter of Fiscal 2015
Jan 28 15
Facebook, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported revenue of $3,851 million against $2,585 million a year ago. Income from operations was $1,133 million, income before provision for income taxes was $1,114 million, net income was $701 million, net income attributable to Class A and Class B common stockholders was $696 million or $0.25 diluted per share against income from operations of $1,133 million, income before provision for income taxes of $1,130 million, net income of $523 million, net income attributable to Class A and Class B common stockholders of $520 million or $0.20 diluted per share for the same period a year ago. Net cash provided by operating activities was $1,583 million against $1,231 million for the same period a year ago. Purchases of property and equipment were $517 million against $483 million for the same period a year ago. Non-GAAP income from operations was $2,219 million against $1,498 million for the same period a year ago. Non-GAAP net income was $1,518 million against $814 million for the same period a year ago. Non-GAAP diluted earnings per share were $0.54 against $0.32 for the same period a year ago.
For the year, the company reported revenue of $12,466 million against $7,872 million a year ago. Income from operations of $4,994 million, income before provision for income taxes was $4,910 million, net income was $2,940 million, net income attributable to Class A and Class B common stockholders was $2,925 million or $1.10 diluted per share on revenue of $7,872 million against income from operations of $2,804 million, income before provision for income taxes of $2,754 million, net income of $1500 million, net income attributable to Class A and Class B common stockholders of $1,491 million or $0.60 diluted per share for the same period a year ago. Net cash provided by operating activities was $5,457 million against $4,222 million for the same period a year ago. Purchases of property and equipment were $1,831 million against $1,362 million for the same period a year ago. Non-GAAP income from operations was $7,207 million against $3,948 million for the same period a year ago. Non-GAAP net income was $4,713 million against $2,334 million for the same period a year ago. Non-GAAP diluted earnings per share were $1.77 against $0.93 for the same period a year ago.
Looking at 2015, there are a couple of things. The first involves how the recent movements in exchange rates might impact its 2015 revenue. Assuming exchange rates were to remain constant at current levels, the company expects that its total revenue in 2015 would be approximately 5% lower than it would be under 2014 exchange rates. Note this 5% represents the expected reduction in 2015 total revenue, not the reduction in the year-over-year growth rate. And second, the company is reporting revenue from Atlas, LiveRail and the Audience Network on a net, not a gross basis, so the growth in those products will have less of an impact on the overall reported revenue growth in 2015. The company expects that its full year 2015 total GAAP expenses will increase 55% to 70% compared to 2014. The company expects that its 2015 total non-GAAP expenses will increase 50% to 65%. The company expects amortization expenses for 2015 to be approximately $700 million to $800 million. And finally, the company anticipates its first quarter and full year 2015 GAAP tax rates to be in the mid to high 40s and non-GAAP rates to be in the mid to high 30s.
Turkish Court Orders Facebook to Block Pages Insulting Prophet
Jan 26 15
A Turkish court has ordered Facebook to block pages deemed insulting to the Prophet Mohammed, threatening to shut down the social media network indefinitely if it ignores the directive. The ruling came after Turkish prosecutors investigated the social media pages following a deadly attack on the Paris offices of French satirical magazine Charlie Hebdo on January 7. Under a change to an existing law, the prime minister and any of his ministers will be able to order a block on websites to protect national security, public order and to prevent crime.