Earlier this week, Facebook reported their Q1 2013 financial results. Facebook COO Sheryl Sandberg reported in the results that 40% of the top grossing iOS and Android apps use Facebook ads on their platform to increase their downloads. These app companies are using Facebook’s Mobile App Install Ads for promotion.
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Yesterday Facebook reported their first quarter earnings. The company reported revenues of $1.46 billion with an EPS of $0.12. Analysts were expecting revenues of $1.44 billion with an EPS of $0.13. Net income for the period was $219 million on GAAP and $312 million on non-GAAP.
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Facebook CEO Mark Zuckerberg has confirmed in an SEC filing that he will now be taking a $1 salary as well as foregoing bonuses. Zuckerberg still has access to billions of dollars because last year he exercised 60 million stock options worth around $2.3 billion. Zuckerberg sold around half of the stock to cover his tax bill. He also still has another 60 million stock options that can be exercised on November 7, 2015.
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When Facebook hosts their company shareholder meeting on June 11th, venture capitalist Jim Breyer will not be seeking a re-election. Breyer is going to be stepping down from Facebook’s board of directors according to an SEC filing. Breyer joined Facebook’s board in the early days. While working at Accel Partners, Breyer convinced Mark Zuckerberg to receive a $12.7 million investment, which valued the company at $93 million. Last May, Accel Partners sold their stake in Facebook for $2.1 billion. Breyer himself made $8.1 million from the sale.
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Facebook has acquired Parse, a mobile backend-as-a-service startup. Parse is a company that sells tools and services that helps build mobile apps. The deal was worth around $85 million and includes retention, according to TechCrunch. Facebook had to outbid multiple Silicon Valley companies for the deal.
Last month we wrote about how Facebook found a way to issue updates to their Android app without having to go through the Google Play application store. Google has now updated their terms and conditions to ensure that no other developers try to circumvent the Google Play store.
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Facebook is building a large data center near the city of Des Moines, Iowa. Based in Altoona, Iowa, this will be Facebook’s fourth facility since 2010. The first Facebook data center was built in Prineville, Oregon. The cost of the new data center is unknown, but we know that it will be within the $1.8 billion in capital expenditures that Facebook projected for this year.
Facebook has hired the team at the company Spaceport.io. Spaceport’s NEO product is a free cross-platform mobile game framework using ActionScript 3. Their product will continue to live on independently. Spaceport co-founder Peter Relan and the YouWeb team will continue working on it.
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