Facebook is soaring on earnings. Three experts weigh in

An earnings beat has Facebook shares flying. Investors also overlooked $3 billion in legal expenses tied to a Federal Trade Commission inquiry into privacy concerns. Three experts weigh in on the quarter. Timothy Lesko, principal at Granite Investment Advisors, is unconcerned with the billions in legal costs this quarter. Gene Munster, founder and managing partner of Loup Ventures, is a convert on the stock after this earnings report.


An earnings beat has Facebook shares flying. Investors also overlooked $3 billion in legal expenses tied to a Federal Trade Commission inquiry into privacy concerns. Three experts weigh in on the quarter. Timothy Lesko, principal at Granite Investment Advisors, is unconcerned with the billions in legal costs this quarter. Gene Munster, founder and managing partner of Loup Ventures, is a convert on the stock after this earnings report.
Facebook is soaring on earnings. Three experts weigh in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: keris lahiff, niall carson, pa images, getty images, zhang peng, lightrocket, luke sharrett, bloomberg, tyrone siu, kcna
Keywords: news, cnbc, companies, soaring, quarter, revenue, users, report, number, legal, investors, experts, really, facebook, strong, earnings, weigh


Facebook is soaring on earnings. Three experts weigh in

An earnings beat has Facebook shares flying.

The social network added more than 6% on Thursday, racing to its highest level since July, after topping estimates on its top and bottom line for the first quarter. Investors also overlooked $3 billion in legal expenses tied to a Federal Trade Commission inquiry into privacy concerns.

Three experts weigh in on the quarter.

Mark Zgutowicz, senior analyst at Rosenblatt Securities, said that while the sales numbers were impressive, there was another figure that smashed his expectations.

“Revenues came in in-line, but the big number was U.S. advertising which was very strong, roughly 20% above what we were expecting so very strong trends for a second quarter straight in the U.S. and this is a seasonally weak Q1 quarter so an impressive number there.”

Timothy Lesko, principal at Granite Investment Advisors, is unconcerned with the billions in legal costs this quarter.

“While certainly it was a good earnings number, it was a good revenue number and whatever the one-time cost or two-time cost that this FTC fine is going to be, it doesn’t really affect what investors are looking for in the future out of a company like Facebook. Their report on monthly active users, daily active users and revenue is what’s really important to this company and we really want to see that revenue number continue to grow because that’s the secret in this stock.”

Gene Munster, founder and managing partner of Loup Ventures, is a convert on the stock after this earnings report.


Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: keris lahiff, niall carson, pa images, getty images, zhang peng, lightrocket, luke sharrett, bloomberg, tyrone siu, kcna
Keywords: news, cnbc, companies, soaring, quarter, revenue, users, report, number, legal, investors, experts, really, facebook, strong, earnings, weigh


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Facebook is soaring on earnings. Three experts weigh in

An earnings beat has Facebook shares flying. Investors also overlooked $3 billion in legal expenses tied to a Federal Trade Commission inquiry into privacy concerns. Three experts weigh in on the quarter. Timothy Lesko, principal at Granite Investment Advisors, is unconcerned with the billions in legal costs this quarter. Gene Munster, founder and managing partner of Loup Ventures, is a convert on the stock after this earnings report.


An earnings beat has Facebook shares flying. Investors also overlooked $3 billion in legal expenses tied to a Federal Trade Commission inquiry into privacy concerns. Three experts weigh in on the quarter. Timothy Lesko, principal at Granite Investment Advisors, is unconcerned with the billions in legal costs this quarter. Gene Munster, founder and managing partner of Loup Ventures, is a convert on the stock after this earnings report.
Facebook is soaring on earnings. Three experts weigh in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: keris lahiff, niall carson, pa images, getty images, zhang peng, lightrocket, luke sharrett, bloomberg, tyrone siu, kcna
Keywords: news, cnbc, companies, soaring, quarter, revenue, users, report, number, legal, investors, experts, really, facebook, strong, earnings, weigh


Facebook is soaring on earnings. Three experts weigh in

An earnings beat has Facebook shares flying.

The social network added more than 6% on Thursday, racing to its highest level since July, after topping estimates on its top and bottom line for the first quarter. Investors also overlooked $3 billion in legal expenses tied to a Federal Trade Commission inquiry into privacy concerns.

Three experts weigh in on the quarter.

Mark Zgutowicz, senior analyst at Rosenblatt Securities, said that while the sales numbers were impressive, there was another figure that smashed his expectations.

“Revenues came in in-line, but the big number was U.S. advertising which was very strong, roughly 20% above what we were expecting so very strong trends for a second quarter straight in the U.S. and this is a seasonally weak Q1 quarter so an impressive number there.”

Timothy Lesko, principal at Granite Investment Advisors, is unconcerned with the billions in legal costs this quarter.

“While certainly it was a good earnings number, it was a good revenue number and whatever the one-time cost or two-time cost that this FTC fine is going to be, it doesn’t really affect what investors are looking for in the future out of a company like Facebook. Their report on monthly active users, daily active users and revenue is what’s really important to this company and we really want to see that revenue number continue to grow because that’s the secret in this stock.”

Gene Munster, founder and managing partner of Loup Ventures, is a convert on the stock after this earnings report.


Company: cnbc, Activity: cnbc, Date: 2019-04-25  Authors: keris lahiff, niall carson, pa images, getty images, zhang peng, lightrocket, luke sharrett, bloomberg, tyrone siu, kcna
Keywords: news, cnbc, companies, soaring, quarter, revenue, users, report, number, legal, investors, experts, really, facebook, strong, earnings, weigh


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Facebook jumps as Stories users and ads show promising growth

The company exceeded revenue expectations and matched estimates for its daily active user growth. The company said it counts 2.7 billion monthly users across the its family of apps, which is unchanged compared to last quarter. Facebook saw its user base in Europe grow to 286 million daily active users, up from 282 million last quarter. The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 milli


The company exceeded revenue expectations and matched estimates for its daily active user growth. The company said it counts 2.7 billion monthly users across the its family of apps, which is unchanged compared to last quarter. Facebook saw its user base in Europe grow to 286 million daily active users, up from 282 million last quarter. The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 milli
Facebook jumps as Stories users and ads show promising growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, niall carson, pa images, getty images
Keywords: news, cnbc, companies, promising, billion, user, vs, forecast, jumps, company, active, growth, facebook, ads, users, million, revenue


Facebook jumps as Stories users and ads show promising growth

Facebook beat on top and bottom—Here’s what three experts are watching now 1 Hour Ago | 02:59

Facebook stock rose as much as 9% in after-hours trading despite the company announcing that it could take a one-time charge of as much $5 billion due to an ongoing Federal Trade Commission inquiry.

The company exceeded revenue expectations and matched estimates for its daily active user growth. Here’s what Facebook reported:

Earnings: 85 cents per share

85 cents per share Revenue: $15.08 billion, vs. $14.98 billion, forecast by Refinitiv

$15.08 billion, vs. $14.98 billion, forecast by Refinitiv Daily active users: 1.56 billion, vs. 1.56 billion forecast by FactSet

1.56 billion, vs. 1.56 billion forecast by FactSet Monthly active users: 2.38 billion, vs. 2.37 billion forecast by FactSet

2.38 billion, vs. 2.37 billion forecast by FactSet Average revenue per user: $6.42, vs. $6.39 forecast by FactSet

The company’s earnings per share analyst expectations are not comparable due to the anticipated FTC charge.

The company said it counts 2.7 billion monthly users across the its family of apps, which is unchanged compared to last quarter. Facebook saw its user base in Europe grow to 286 million daily active users, up from 282 million last quarter. The company’s user base in the U.S. and Canada remained flat quarter-to-quarter at 186 million. The company said average revenue per user was $6.42, up 16% from $5.53 a year ago.

The FTC has been probing Facebook since March 2018 following reports that political consulting firm Cambridge Analytica had improperly access the data of 87 million Facebook users. To date, the FTC’s biggest fine against a tech company was in 2012 when Google agreed to pay a $22.5 million penalty due to its privacy practices.

“We estimate that the range of loss in this matter is $3.0 billion to $5.0 billion,” Facebook said in a statement. “The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, niall carson, pa images, getty images
Keywords: news, cnbc, companies, promising, billion, user, vs, forecast, jumps, company, active, growth, facebook, ads, users, million, revenue


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Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more

Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. Earnings


Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. Earnings
Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: maggie fitzgerald, niall carson, pa images, getty images
Keywords: news, cnbc, companies, stocks, hours, share, billion, cents, making, microsoft, analysts, firstquarter, company, revenue, moves, facebook, refinitiv, estimates, earnings, biggest, tesla


Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more

Facebook beat on top and bottom—Here’s what three experts are watching now 1 Hour Ago | 02:59

Check out the companies making headlines after the bell:

Shares of Facebook popped more than 7% in extended trading Wednesday following the release of the social media giant’s first-quarter earnings. Facebook reported earnings per share of 85 cents, which was not comparable to analysts’ estimates due to a $3 billion legal expense related to a Federal Trade Commission inquiry into Facebook’s privacy policies.

Revenue came in at $15.08 billion, topping Wall Street’s $14.98 billion forecast, according to Refinitiv. Daily active users increased 8% year over year to total 1.56 billion. Average revenue per user was $6.42, beating estimates of $6.39.

Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. The second largest company by market valuation, behind Apple, earned $30.57 billion in revenue during the period. That tops estimates of $29.84 billion, according to analysts surveyed by Refinitiv. Earnings per share were $1.14, higher than the $1.00 expected by analysts.

Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Elon Musk’s automaker reported a loss of $2.90 on revenue of $4.54 billion. Analysts expected a loss of 69 cents on revenue of $5.19 billion per Refinitiv.

Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. Chipotle posted revenue of $1.31 billion, beating estimates of $1.26 billion. Earnings per share were $3.40, compared to the $3.01 forecast on the Street.

Chipotle’s same store sales grew 9.9%, topping estimates of 7.3%.

PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. The Venmo parent company earned $4.13 billion in revenue, in line with estimates. Earnings per share came in at 78 cents, beating expectations by 10 cents, according to analysts surveyed by Refinitiv. PayPal’s total payment volume was $161 billion, while Venmo’s was $21 billion.

The company revealed that Venmo’s payment platform has 40 million users, the first time it has shared this metric.

Shares of Visa dipped 1% after market close Wednesday despite posting better-than-expected earnings. For the first quarter Visa earned $5.49 billion in revenue, slightly higher the expected $5.47 billion. Earnings per share were $1.31, higher than analysts’ estimates of $1.24. Visa’s stock is up more than 22% year to date.

Shares of Xilinx plummeted more than 11% in extended trading Wednesday despite better-than-expected fourth-quarter earnings. The semiconductor company reported earnings in line with estimates at 94 cents per share. Revenue was $828 million, lower than the expected $825 million, according to Refinitiv. Xilinx’s stock is up about 64% year to date.

Xilinx also announced they are acquiring networking technology company Solarflare.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: maggie fitzgerald, niall carson, pa images, getty images
Keywords: news, cnbc, companies, stocks, hours, share, billion, cents, making, microsoft, analysts, firstquarter, company, revenue, moves, facebook, refinitiv, estimates, earnings, biggest, tesla


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Facebook says the FTC privacy inquiry could cost as much as $5 billion

Facebook took a $3 billion charge due to the Federal Trade Commission’s inquiry into its business, the company disclosed in its first quarter 2019 earnings report. Facebook estimated the final charge could be as much as $5 billion for the company. “The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome,” the company wrote in its release. The FTC launched an investigation into Facebook after the Cambridge Analytica scandal broke, probing wh


Facebook took a $3 billion charge due to the Federal Trade Commission’s inquiry into its business, the company disclosed in its first quarter 2019 earnings report. Facebook estimated the final charge could be as much as $5 billion for the company. “The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome,” the company wrote in its release. The FTC launched an investigation into Facebook after the Cambridge Analytica scandal broke, probing wh
Facebook says the FTC privacy inquiry could cost as much as $5 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, niall carson, pa images, getty images
Keywords: news, cnbc, companies, cost, charge, company, privacy, investigation, agency, ftc, facebook, final, users, data, inquiry, billion


Facebook says the FTC privacy inquiry could cost as much as $5 billion

Facebook took a $3 billion charge due to the Federal Trade Commission’s inquiry into its business, the company disclosed in its first quarter 2019 earnings report. Facebook estimated the final charge could be as much as $5 billion for the company.

“The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome,” the company wrote in its release.

The FTC launched an investigation into Facebook after the Cambridge Analytica scandal broke, probing whether Facebook violated a 2011 agreement it made with the agency that required it to gain explicit consent to share users data. Although the FTC has previously declined to confirm the status of the investigation, The Washington Post reported in January that the agency is considering a “record-setting fine” against the company for failing to protect users’ data.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, niall carson, pa images, getty images
Keywords: news, cnbc, companies, cost, charge, company, privacy, investigation, agency, ftc, facebook, final, users, data, inquiry, billion


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Coca-Cola is making a big push into coffee

Coca-Cola isn’t new to coffee, but the global beverage giant is planning on making a big push into the industry this year. The company is releasing Coca-Cola Coffee in more than 25 markets around the world by the end of 2019. The drink, which blends Coke with coffee, has slightly less caffeine than a normal cup of coffee but more than a can of the soda. Coca-Cola Coffee contains less sugar than a Coke of the same size. Ready-to-drink coffee is the fastest growing segment in the coffee category,


Coca-Cola isn’t new to coffee, but the global beverage giant is planning on making a big push into the industry this year. The company is releasing Coca-Cola Coffee in more than 25 markets around the world by the end of 2019. The drink, which blends Coke with coffee, has slightly less caffeine than a normal cup of coffee but more than a can of the soda. Coca-Cola Coffee contains less sugar than a Coke of the same size. Ready-to-drink coffee is the fastest growing segment in the coffee category,
Coca-Cola is making a big push into coffee Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: amelia lucas, yui mok, pa images, getty images
Keywords: news, cnbc, companies, coffee, revenue, consumers, making, billion, growth, big, quincey, push, company, growing, coke, cocacola


Coca-Cola is making a big push into coffee

Coca-Cola isn’t new to coffee, but the global beverage giant is planning on making a big push into the industry this year.

The company is releasing Coca-Cola Coffee in more than 25 markets around the world by the end of 2019.

“Coke Coffee was designed to reach consumers during specific occasions and channels like the mid-afternoon energy slump at work,” CEO James Quincey told analysts Tuesday.

The drink, which blends Coke with coffee, has slightly less caffeine than a normal cup of coffee but more than a can of the soda.

The move comes as consumers have shifted from drinking soda to choosing less sugary options, like bottled water and Coca-Cola Zero Sugar. Coca-Cola Coffee contains less sugar than a Coke of the same size.

The drink also allows the company to capitalize on a trend that is working: coffee. Ready-to-drink coffee is the fastest growing segment in the coffee category, growing 31% in 2016 and 2017, according to Mintel. Chilled coffee drinks such as cold brew are also growing in popularity with consumers. From 2013 to 2017, cold coffee grew at least 10% annually in the U.S., Mintel research found. The trend is less appreciated by European consumers, who tend to experiment less.

So far, Coke’s coffee business has largely been focused in Japan, where canned coffee has been popular in vending machines for decades. The Atlanta-based company’s Georgia Coffee brand has surpassed $1 billion in sales and expanded to other Asian countries.

Coke first tried to introduce coffee to its namesake brand back in 2006. The company discontinued the short-lived Coca-Cola Blak two years later.

In 2017, Coke took another whack at it, introducing Coca-Cola Plus Coffee in Australia. The following year, the company brought it to Asia for more tests after retooling the formula to heighten the coffee aroma.

“The early results are very promising, delivering incremental growth for the Coca-Cola brand with very little cannibalization,” Quincey told analysts in July.

The company also plans to start selling ready-to-drink Costa coffee products in European markets during the second quarter. Coke purchased the British coffee chain for $5.1 billion including debt and closed the deal in January.

“We’re in early days of working out exactly how we’re going to bring to life the synergy plans for greater revenue growth and profit growth,” Quincey said on CNBC’s “Squawk on the Street.”

Coke’s stock rose 2% in morning trading Tuesday after the company reported earnings and revenue that beat Wall Street’s estimates. The beverage giant earned 48 cents per share from continuing operations, beating the 46 cents per share expected by analysts surveyed by Refinitiv. Revenue rose 5% to $8.02 billion, topping expectations of $7.88 billion.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: amelia lucas, yui mok, pa images, getty images
Keywords: news, cnbc, companies, coffee, revenue, consumers, making, billion, growth, big, quincey, push, company, growing, coke, cocacola


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Facebook says it ‘unintentionally uploaded’ 1.5 million users’ email contacts without permission

Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said. Facebook said it used to have a


Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said. Facebook said it used to have a
Facebook says it ‘unintentionally uploaded’ 1.5 million users’ email contacts without permission Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: saheli roy choudhury, niall carson, pa images, getty images
Keywords: news, cnbc, companies, million, facebook, uploaded, 15, unintentionally, process, spokesperson, email, giant, step, site, users, permission, contacts


Facebook says it 'unintentionally uploaded' 1.5 million users' email contacts without permission

Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016.

Users affected by that incident were not just limited to the United States, according to a source familiar with the matter.

Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC.

“We’ve fixed the underlying issue and are notifying people whose contacts were imported. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said.

Business Insider first reported the news and said a security researcher noticed the tech giant was prompting some users to type in their email passwords when they opened an account to verify their identity.

Facebook said it used to have a step in the account verification process where some users had the option to confirm their email address and voluntarily import their email contacts onto the site. The feature was meant to help them find their friends more effectively and improve ads, according to the company.

That process was redesigned in May 2016. While the language, which explained the step, was removed, the feature itself was not, Facebook said. Hence, email contacts were still being uploaded to the site without users being aware of that fact.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: saheli roy choudhury, niall carson, pa images, getty images
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Ireland is adequately prepared for a disorderly Brexit, finance minister says

Ireland is adequately prepared for a disorderly Brexit, finance minister says7 Hours AgoThe U.K.’s recently-granted Brexit extension is seen as a positive development in Ireland, but the government is encouraging Irish companies to make all necessary preparations to cope with a potential disorderly Brexit, Irish Finance Minister Paschal Donohoe told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C.


Ireland is adequately prepared for a disorderly Brexit, finance minister says7 Hours AgoThe U.K.’s recently-granted Brexit extension is seen as a positive development in Ireland, but the government is encouraging Irish companies to make all necessary preparations to cope with a potential disorderly Brexit, Irish Finance Minister Paschal Donohoe told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C.
Ireland is adequately prepared for a disorderly Brexit, finance minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: niall carson, pa images, getty images
Keywords: news, cnbc, companies, prepared, minister, brexit, told, ireland, adequately, spring, uks, washington, finance, disorderly, irish


Ireland is adequately prepared for a disorderly Brexit, finance minister says

Ireland is adequately prepared for a disorderly Brexit, finance minister says

7 Hours Ago

The U.K.’s recently-granted Brexit extension is seen as a positive development in Ireland, but the government is encouraging Irish companies to make all necessary preparations to cope with a potential disorderly Brexit, Irish Finance Minister Paschal Donohoe told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: niall carson, pa images, getty images
Keywords: news, cnbc, companies, prepared, minister, brexit, told, ireland, adequately, spring, uks, washington, finance, disorderly, irish


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Facebook spent $20 million last year on Zuckerberg’s personal security, up 4 times from 2016

Facebook on Friday announced that it allocated CEO Mark Zuckerberg $20 million for security purposes — that’s four times what he received for security in 2016. The company said Zuckerberg received nearly $10 million in 2018 for his standard personal security, plus an additional pre-tax allowance of $10 million, new this year, “to cover additional costs related to Mr. Zuckerberg and his family’s personal security.” Zuckerberg received $7.6 million and $5.1 million for security in 2017 and 2016,


Facebook on Friday announced that it allocated CEO Mark Zuckerberg $20 million for security purposes — that’s four times what he received for security in 2016. The company said Zuckerberg received nearly $10 million in 2018 for his standard personal security, plus an additional pre-tax allowance of $10 million, new this year, “to cover additional costs related to Mr. Zuckerberg and his family’s personal security.” Zuckerberg received $7.6 million and $5.1 million for security in 2017 and 2016,
Facebook spent $20 million last year on Zuckerberg’s personal security, up 4 times from 2016 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: salvador rodriguez, niall carson, pa images, getty images
Keywords: news, cnbc, companies, 20, 2016, security, zuckerbergs, received, personal, used, increase, costs, zuckerberg, spent, times, facebook, million


Facebook spent $20 million last year on Zuckerberg's personal security, up 4 times from 2016

Facebook on Friday announced that it allocated CEO Mark Zuckerberg $20 million for security purposes — that’s four times what he received for security in 2016.

The increase shows up in a Friday afternoon financial filing, which showed Zuckerberg’s compensation more than doubled from $9.1 million in 2017 to $22.6 million in 2018.

However, that increase is nearly all attributable to higher security costs. The company said Zuckerberg received nearly $10 million in 2018 for his standard personal security, plus an additional pre-tax allowance of $10 million, new this year, “to cover additional costs related to Mr. Zuckerberg and his family’s personal security.”

These funds are used to cover security at Zuckerberg’s “residences and during personal travel.” Zuckerberg received $7.6 million and $5.1 million for security in 2017 and 2016, respectively.

Not all of the funds in Zuckerberg’s security compensation are for security, the filing said. About $2.6 million of the $20 million were “for costs related to personal usage of private aircraft.”

Facebook has a broad security operation, which is known to track the locations of specific users that the company has deemed to be threats to Facebook and its executives.

Zuckerberg’s sharp increase in 2018 compensation came after the company navigated a turbulent year riddled with scandals, starting with the Cambridge Analytica scandal in March, in which a political consultancy obtained personal data of Facebook users in an unauthorized way and used it to target political ads; and ending with the Definers Public Affairs episode in November, where Facebook was found to have used a firm to write negative stories about competitors and plant them in the press.

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: salvador rodriguez, niall carson, pa images, getty images
Keywords: news, cnbc, companies, 20, 2016, security, zuckerbergs, received, personal, used, increase, costs, zuckerberg, spent, times, facebook, million


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Starbucks launches UK fund to help recycle coffee cups

Starbucks launched a £1 million ($1.3 million) fund on Thursday to kickstart recycling programs across the U.K. for paper coffee cups. Launched in partnership with environmental charity Hubbub, “The Cup Fund” will support at least 10 large-scale recycling initiatives. Hubbub noted in a press release Thursday that more recycling points specifically for paper coffee cups were needed, as well as clearer communication to help the public recycle more effectively. Starbucks introduced a 5 pence charge


Starbucks launched a £1 million ($1.3 million) fund on Thursday to kickstart recycling programs across the U.K. for paper coffee cups. Launched in partnership with environmental charity Hubbub, “The Cup Fund” will support at least 10 large-scale recycling initiatives. Hubbub noted in a press release Thursday that more recycling points specifically for paper coffee cups were needed, as well as clearer communication to help the public recycle more effectively. Starbucks introduced a 5 pence charge
Starbucks launches UK fund to help recycle coffee cups Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: chloe taylor, nick ansell, pa images, getty images
Keywords: news, cnbc, companies, million, recycle, paper, help, coffee, uk, starbucks, fund, recycling, hubbub, cup, launches, cups


Starbucks launches UK fund to help recycle coffee cups

Starbucks launched a £1 million ($1.3 million) fund on Thursday to kickstart recycling programs across the U.K. for paper coffee cups.

Launched in partnership with environmental charity Hubbub, “The Cup Fund” will support at least 10 large-scale recycling initiatives. It will offer grants from £50,000 up to £100,000 based on individual organizations’ needs, with an aim of helping with the development of long-term infrastructure.

Coffee shops have faced widespread criticism for selling drinks in paper cups that cannot be recycled with ordinary paper and cardboard due to a plastic lining that stops hot drinks from leaking. Hubbub noted in a press release Thursday that more recycling points specifically for paper coffee cups were needed, as well as clearer communication to help the public recycle more effectively.

The fund is open to applications from a range of organizations including local authorities, recycling companies and property owners.

Jaz Rabadia, U.K. senior manager of energy and sustainability at Starbucks, said in a press release that it was a significant step for the coffee giant.

“For us it’s about three things when it comes to cups: getting more customers to bring in a reusable cup when they visit us, recycling those that are used and also looking at alternative materials to plastic that future cups could be made from that we’ll be trialling in London next year.”

Starbucks introduced a 5 pence charge on paper cups in the U.K. last year in an effort to encourage the uptake of reusable cups. All proceeds are donated to Hubbub to carry out environmental projects.

The company also offers instore cup recycling in 350 locations across Britain.

Earlier this month, the BBC reported that independent coffee chain Boston Tea Party saw sales decline by £250,000 after it banned single use cups last summer. The company, which is based in the English city of Bristol, said it usually sold £1 million in takeaway coffees per year but those numbers had fallen by 25%.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: chloe taylor, nick ansell, pa images, getty images
Keywords: news, cnbc, companies, million, recycle, paper, help, coffee, uk, starbucks, fund, recycling, hubbub, cup, launches, cups


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