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February 09, 2016 7:06 AM ET

Internet Software and Services

Company Overview of Facebook, Inc.

Company Overview

Facebook, Inc. operates as a mobile application and Website that enables people to connect, share, discover, and communicate each other on mobile devices and personal computers worldwide. Its solutions also include Instagram, a mobile application that enables people to take photos or videos, customize them with filter effects, and share them with friends and followers in a photo feed or send them directly to friends; Messenger, a messaging application for mobile and Web on various platforms and devices, which enable people to reach others instantly, as well as enable businesses to engage with customers; and WhatsApp Messenger, a mobile messaging application. The company also develops Oculus ...

1601 Willow Road

Menlo Park, CA 94025

United States

Founded in 2004

12,691 Employees

Phone:

650-543-4800

Key Executives for Facebook, Inc.

Founder, Chairman and Chief Executive Officer
Age: 31
Total Annual Compensation: $1.0
Chief Financial Officer
Age: 46
Total Annual Compensation: $953.1K
Chief Operating Officer and Director
Age: 45
Total Annual Compensation: $1.2M
Chief Technology Officer and Vice President of Engineering
Age: 40
Total Annual Compensation: $1.5M
Chief Product Officer
Age: 32
Total Annual Compensation: $1.4M
Compensation as of Fiscal Year 2014.

Facebook, Inc. Key Developments

Facebook, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year of 2016

Facebook, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported revenue of $5,841 million against $3,851 million a year ago. Income from operations was $2,560 million, income before provision for income taxes was $2,557 million, net income was $1,562 million, net income attributable to Class A and Class B common stockholders was $1,555 million or $0.54 diluted per share against income from operations of $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 for the same period a year ago. Net cash provided by operating activities was $2,827 million against $1,583 million for the same period a year ago. Purchases of property and equipment were $692 million against $517 million for the same period a year ago. Non-GAAP income from operations was $3,523 million against $2,219 million for the same period a year ago. Non-GAAP net income was $2,265 million against $1,518 million for the same period a year ago. Non-GAAP diluted earnings per share were $0.79 against $0.54 for the same period a year ago. Free cash flow was $2,135 million against $1,066 million for the same period a year ago. For the year, the company reported revenue of $17,928 million against $12,466 million a year ago. Income from operations of $6,225 million, income before provision for income taxes was $6,194 million, net income was $3,688 million, net income attributable to Class A and Class B common stockholders was $3,669 million or $1.29 diluted per share against 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 for the same period a year ago. Net cash provided by operating activities was $8,599 million against $5,457 million for the same period a year ago. Purchases of property and equipment were $2,523 million against $1,831 million for the same period a year ago. Non-GAAP income from operations was $10,001 million against $7,207 million for the same period a year ago. Non-GAAP net income was $6,518 million against $4,713 million for the same period a year ago. Non-GAAP diluted earnings per share were $2.28 against $1.77 for the same period a year ago. Free cash flow was $6,076 million against $3,626 million for the same period a year ago. The company provided capital expenditures guidance for the year 2016. The company anticipated its 2016 capital expenditures will be in the range of $4 billion to $4.5 billion. The company expects 2016 amortization expenses to be approximately $700 million to $800 million. The company anticipated that its first quarter and full year of 2016 GAAP and non-GAAP tax rates to be in the low 30s on 1% basis, down from its 2015 rates. The company expects its tax rates will decline further over time and resemble those of global peers over the next several years.

Facebook Plans to Build its Next Data Centre in Clonee, Ireland

Facebook has announced plans to build its next data centre in Clonee, Ireland. It will be the company's first data centre in Ireland and its second in Europe after Lulea, Sweden. The new facility will be powered by 100% renewable energy, using Ireland's strong wind resources. The company will help it reach its goal of powering half of its infrastructure with clean and renewable energy by the end of 2018.

Judge Gives Green Light for KBC Asset Management and Others in Facebook Class Action

Facebook investors including KBC Asset Management (KBCAM) have been given permission by a US judge to pursue their class action against Facebook relating to growth forecasts published in the run-up to its initial public offering (IPO) on the NASDAQ in May 2012. The plaintiffs, who represent a class of purchasers of Facebook Class A common stock in the IPO, claim Facebook made materially untrue and misleading statements in its registration statement and prospectus. Facebook's primary revenue source is advertising, and the registration statement referred to growth opportunities in the mobile market, as well as the risks involved in monetising that market by displaying advertisements on mobile devices, which Facebook had not yet done. But after the statement was published, and only a day after the first roadshow presentation, Facebook cut its internal projected revenue figures for the second quarter of 2012, as potential negative implications of increased mobile use became clearer. Robert Sweet, US district judge, Southern District of New York, has now allowed class certification for both institutional and retail investors, allowing them to pursue group lawsuits, and appointed class representatives and counsel. The facebook had argued that shareholders should pursue their claims individually because of the varying degrees of their knowledge about mobile's negative impact on Facebook's revenue, as well as about the revised revenue projections. The facebook had also argued that the class could not be certified because US securities laws do not apply extraterritorially but only where title to the security transfers within the US. More than 53 million shares had been sold through the IPO to investors based abroad. The lead plaintiffs are the North Carolina Department of State Treasurer (on behalf of the North Carolina Retirement Systems), the Arkansas Teacher Retirement System and the Fresno County Employees' Retirement Association. The defendants include Facebook, a number of Facebook directors and officers including chairman and co-founder Mark Zuckerberg, and the underwriters of the IPO.

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