Facebook: Lots Of Friends, But Stock Offering Has Risks

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The future of computing is in the palm of your hand — and Facebook knows it. That’s why the most encouraging thing about the tech giant’s generally solid earnings report Wednesday was the fact that mobile revenues represent a fast-growing chunk of the company’s overall business. Facebook founder Mark Zuckerberg has made it clear that mobile growth is a top priority for the company. “There is no argument,” he told Wall Street analysts earlier this year.

The future of computing is in the palm of your hand — and Facebook knows it. That’s why the most encouraging thing about the tech giant’s generally solid earnings report Wednesday was the fact that mobile revenues represent a fast-growing chunk of the company’s overall business. Facebook founder Mark Zuckerberg has made it clear that mobile growth is a top priority for the company. “There is no argument,” he told Wall Street analysts earlier this year.

Over the last year, Facebook CEO Mark Zuckerberg has repeatedly emphasized his company’s social mission, “to make the world more open and connected.” It turns out that he’s interested in building a lucrative business as well. After Facebook’s surprisingly strong earning report, highlighted by impressive performance generating mobile revenue, the company’s shares skyrocketed by 20% on Wednesday, in the largest one-day gain since the company went public back in May.

Facebook hopes to raise more than $100 billion in its initial public stock offering. In a piece at Slate.com, tech columnist Farhad Manjoo warns that Facebook users can expect to see changes, including lots more ads. But he warns the company must balance profit seeking with the desires of users.» E-Mail This     » Add to Del.icio.us

General Motors said Thursday it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public. It was the automaker's second straight quarterly profit for GM, which made $865 million in the first quarter.» E-Mail This     » Add to Del.icio.us

For a guy who's always talking about how he's not concerned with the competition, Google CEO Larry Page sure ripped into one yesterday.

Facebook's stock sank after its initial public offering last May. But since the new year began, its share price has soared nearly 20 percent. Is this the year it finally figures out how to make money from mobile users? There's lots of speculation about what it might announce next Tuesday.» E-Mail This     » Add to Del.icio.us