facebook inc-a (FB) Key Developments
Nokia'Here Reportedly Acquired By Facebook
May 4 15
One of the companies in the frame as a potential buyer of Nokia Corporation (HLSE:NOK1V)'s Here mapping division has quietly inked a deal with the Finnish company to power mobile maps. Facebook, Inc. (NasdaqGS:FB) is now using Here maps for its mobile web version. Besides Facebook, sources tell us that other possible buyers for Nokia Here include Apple Inc. (NasdaqGS:AAPL), a car consortium, Samsung C&T Corporation (KOSE:A000830), Uber Technologies, Inc., Baidu, Inc. (NasdaqGS:BIDU), Alibaba Group Holding Limited (NYSE:BABA), Tencent Holdings Limited (SEHK:700) and Yahoo! Inc. (NasdaqGS:YHOO). The news of the new Facebook/Nokia mapping partnership was not announced by either company, but contacted for comment, both confirmed the basic details to us: “We are testing Nokia HERE maps across Facebook to give us more control and flexibility in delivering a consistent maps experience,” a Facebook spokesperson confirmed to TechCrunch by email.
Facebook Doubles Euston Office Space
Apr 23 15
Facebook has reached agreement with British Land to lease an additional 66,000 sq ft of space at 338 Euston Road. Facebook will occupy the fifth floor of the building, as well as floors nine - 16 and a ground floor events space. The new lease comes in addition to the 87,000 sq ft of space Facebook already occupies in the Regent's Place building. The building forms part of Regent's Place, British Land's mixed use campus located in the West End. The campus, which is fully let, is home to 45 office occupiers drawn from a range of industry sectors, as well as The Triton Building, a 26-storey tower with 94 residential apartments.
Facebook, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reaffirms Capital Expenditure Guidance for the Year 2015; Provides Tax Rate Guidance for the Second Quarter of 2015
Apr 22 15
Facebook, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of $3,543 million compared with $2,502 million for the same period a year ago on a constant currency basis. The general strengthening of the U.S. dollar in the past year had an unfavorable impact on revenue. Had foreign exchange rates remained constant with first quarter of 2014 levels, the company's total revenue this quarter would have been approximately $190 million higher. Income from operations was $933 million compared with $1,075 million for the same period a year ago. Income before provision for income taxes was $932 million compared with $1,075 million for the same period a year ago. Net income attributable to Class A and Class B common stockholders was $509 million or $0.18 per diluted share compared with $639 million or $0.25 per diluted share for the same period a year ago. Net cash provided by operating activities was $1,700 million compared with $1,285 million for the same period a year ago. Purchases of property and equipment was $502 million compared with $363 million for the same period a year ago. Non-GAAP income from operations was $1,840 million compared with $1,415 million for the same period a year ago. Non-GAAP net income was $1,189 million or $0.42 per diluted share compared with $926 million or $0.35 per diluted share for the same period a year ago.
The company reaffirmed capital expenditure guidance for the year 2015. The company anticipates 2015 capital expenditures will be in the neighborhood of $2.7 billion to $3.2 billion. The company expects amortization expenses in 2015 to be approximately $700 million to $800 million. The company expects full year 2015 GAAP and non-GAAP tax rates to be consistent with the rates in the first quarter.
The company anticipates second quarter 2015 GAAP and non-GAAP tax rates to be consistent with the rates in the first quarter.
Nokia Reportedly Targeting Apple, Alibaba and Amazon In Maps-Unit Sale
Apr 22 15
Nokia Corporation (HLSE:NOK1V) is trying to find a suitable buyer for its map business, HERE Holding Corporation. According to people with knowledge of the matter, Nokia is trying to attract Apple Inc. (NasdaqGS:AAPL), Alibaba Group Holding Limited (NYSE:BABA) and Amazon.com Inc. (NasdaqGS:AMZN). Other potential suitors include Facebook, Inc. (NasdaqGS:FB), a group of German carmakers and private-equity firms. According to a source, Nokia is seeking more that €3 billion from the sale. Sirius XM Holdings Inc. (NasdaqGS:SIRI) and Harman International Industries, Incorporated (NYSE:HAR) are also reported to have been approached for their interest. Baidu, Inc. (NasdaqGS:BIDU) is considering a bid for the maps business, according to a person familiar with the matter. First-round bids for HERE are due at the end of next week, one person said.
Nokia's Map Business Reportedly Attracts Bidders
Apr 22 15
The map business of Nokia Corporation (HLSE:NOK1V) attracted interest from at least four potential buyers including Facebook, Inc. (NasdaqGS:FB), and a consortium of Bayerische Motoren Werke Aktiengesellschaft (DB:BMW), AUDI AG (DB:NSU) and Daimler AG (XTRA:DAI), according to a German magazine, Manager Magazin. The magazine, citing people familiar with the matter, also mentioned that Hellman & Friedman LLC is also interested in the map business. Nokia, Facebook declined to comment on the report. Hellman & Friedman, BMW, Audi and Daimler were not immediately available for comment.