Facebook Ireland turned a gross profit of €1.79 billion ($2.45 billion) in 2012, but it reported a pre-tax loss of €626,000 ($857,243). This may sound sketchy, but the company was fully compliant with the law. Financial Times explained how this happened.
Final Approval Granted For Facebook’s $20M Settlement Of Class-Action Lawsuit Over Users’ Images In Sponsored Stories
U.S. District Court Judge Richard Seeborg granted final approval to Facebook’s $20 million settlement of class-action lawsuit Fraley et al vs. Facebook Monday, which was filed regarding the use of users’ images in sponsored stories, wrapping up proceedings that started in 2011.
Could the Fraley et al vs. Facebook class-action lawsuit over the use of users’ images in sponsored stories finally come to an end Friday? If U.S. District Court Judge Richard Seeborg grants his final approval to the settlement reached between the social network and the plaintiffs, the suit, which was originally filed in 2011, may hear its final gavel.
Florida-based fund manager and former Oregon gubernatorial candidate Craig Berkman pleaded guilty Tuesday to defrauding investors by promising them access to nonexistent Facebook shares prior to the social network’s initial public offering in May 2012, Reuters reported.
Dishonesty appears to be a theme this Friday, but in this case, Facebook nipped the potential for dishonesty in the bud, removing ads from a firm known as Paladin Deception Service following a tip (via tweet) from Jeff Bercovici of Forbes.
Myriad reports have said that Facebook has a problem with teen users eschewing the site for social networks such as Tumblr. A few sources have reported Friday that Yahoo may be trying to purchase Tumblr, but Facebook could also be in these discussions, as well. According to AllThingsD, Yahoo is rumored to be willing to pay up to $1 billion to purchase Tumblr, but Forbes and GigaOM think that Facebook could swoop in and add the blogging site. However, it’s unlikely that Facebook will get the chance.
Facebook will announce Wednesday afternoon how well it did financially in the first quarter of this fiscal year. The company has been aggressive about rolling out ad products, and it deepened its relationship with firms such as Datalogix to give advertisers better purchasing data. Let’s take a look at what others think ahead of Wednesday’s earnings call.