SEC Pressed Facebook for Details on Mobile Revenue Before IPO
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The U.S. Securities and Exchange Commission pressed Facebook Inc. executives to explain in more detail how a user shift to mobile devices could impact the company’s profits, according to documents made public today.
“Assuming that the trend toward mobile continues and your mobile monetization efforts are unsuccessful, ensure that your disclosure fully addresses the potential consequences to your revenue and financial results rather than just stating that they ’may be negatively affected,’” the agency wrote to Facebook on Feb. 28.