Zuckerberg refuted widespread reports that Facebook would try and design its own smartphone. According to the Facebook CEO it made little sense to dive into hardware but he adding that Facebook was constantly looking to improve the mobile experience.
Recent reports said that Facebook was joining hands with Taiwanese phone maker HTC for a smartphone with Facebook's own version of the Android operating system.
Facebook reported a drastic slowdown in revenue growth and failed to offer financial forecasts to quell fears about its ability to boost advertising growth, sending its shares plummeting to a record low.
Facebook reported that revenue increased 32 per cent in the second quarter to $1.18 billion, in line with average forecasts. But it offered no outlook for the current period as some investors had hoped.
Facebook posted a net loss of $157 million, or 8 cents a share in the second quarter, due to hefty stock compensation charges related to its IPO, compared to net income of $240 million, or 11 cents, in the year-ago quarter.
The eight-year-old company, started by Mark Zuckerberg in his Harvard dormitory room, became the first American company to debut at over $100 billion in value when it went public on May 18.
Investors are worried about the company's ability to transform its growing mobile presence into ad revenue and the company's long-term money-making potential.
Posted in: Technology
0 comments:
Post a Comment