Revenue

Facebook Takes Early Financial Hit, But Execs Believe In Recovery

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Facebook’s first quarterly financial report since going public offered some good news and some bad news for the company. The good news? Facebook is continually gaining users, especially on mobile. The bad news? The company took a major financial hit in stock compensation after the post-initial public offering freefall. But the three executives on Thursday’s earnings call — Co-Founder and CEO Mark Zuckerberg, Chief Operating Officer Sheryl Sandberg, and Chief Financial Officer David Ebersman — are confident in Facebook’s future.

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GM Yanks $10M Ad Campaign From Facebook

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A recent study for The Hollywood Reporter found that 88 percent of people consider Facebook to be entertainment, and a CNBC/Associated Press survey released just today confirmed this, finding that only 12 percent of users would feel confident making purchases through the site, so no one should be shocked that General Motors announced that it is yanking its advertising dollars ($10 million worth) from the social network’s platform.

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