Facebook posts loss in first quarter result report

12:30 AM Facebook, first, posts, quarter, Report, result No Comments

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Facebook CEO Mark Zuckerberg said the company is focused on mobile, social show and the network development platform.

At 7 am ET updated: Facebook a loss reported Thursday in its first quarterly report as a joint-stock company, but sales rose from 32 per cent on the previous year levels to nearly $1.20 billion.

The results were about analyst expectations but Facebook shares (FB), already under severe pressure, decreased after release the result.

In a conference call with analysts, which was broadcast over the Internet, Facebook executives led by CEO Mark Zuckerberg said that they have worked hard to create new "social" advertising that the company make money the growing percentage of its users, to come to the service through mobile devices.

"An enormous opportunity for Facebook is mobile," said Zuckerberg.

"Our goal is everyone in the world," he said, adding that most people in the world will soon have a mobile device, so it makes sense to improve the mobile Facebook experience.

COO Sheryl Sandberg said the company has experimented with "sponsored stories" to pay the advertisers like Wal-Mart, to be sure, enable more users to display a particular piece of content in their news feed. She said that makes it possible to avoid the problem Facebook many media companies making money a hard time have the strategy with the small screen of mobile devices.

"Sponsored stories in the news are the cornerstone of our mobile advertising efforts", she said.

Zuckerberg said Facebook's opportunity to a platform for other developers build greater than generally understood.

He sketched out a future in which a new car buyers the car log on computer and immediately have access to contacts, music, restaurant, listings and the recommendation of friends would.

The social networking giant released a net loss of $157 million, or 8 cents per share, primarily by expenses in connection with its May 17 public offering. Without that of Facebook said that it earned 12 cents per share in line with Wall Street expectations.

Excluding share-based compensation and related personnel expenses tax said Facebook $515 million operating profit in the second quarter, compared with $477 million in the second quarter of 2011.

In the press release to Zuckerberg said that the company focused on "Mobile, platform and social show."

BTIG analyst Richard Greenfield said that investors were concerned that Facebook does not offer any evidence for his income going forward.

"Growth clearly slows down based on the user and revenue and without any commentary that people believe it is growing, have a large part of the investor fear," said he.

Facebook shares, which to regain even their $38 price fell $2.50 $26.84 before earnings were released, and by a further 10 percent in after-hours trading. Prior to the release Zynga, which accounts for more than 10 percent of sales of Facebook's Facebook were made due to the poor performance of result of of gaming company shares.

Michael Matousek, a senior trader at U.S. Global Investors Inc., Facebook said beating expectations, "but was the road looking for more."

"The big question which was how, it will earn its users billions or money," he said. "A lot people think you can convert these users not in money."

Facebook said that it had 955 million monthly active users, from 901 million users at the end of March. 84 Percent of its revenue or $992 million, generated from advertising.

The company has approximately 4,000 employees on the 30 June, up from 3,200 at the end of the year, a number that large user base was described as relatively Facebook's small.

Facebook was a massively hyped IPO, which widely as a failure, both due to technical mishaps and because the price of underwriters set could not keep, leaving legions of new, unfortunate investors.

CNBC's Julia Boorstin takes a look at Facebook's reported earnings in the last quarter.

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Postal Service posts $3.3 billion loss

5:17 AM billion, Postal, posts, service No Comments

The U.S. Postal Service reported quarterly losses of $3.3 billion, and says that at the rate it's going, it will run out of money by October.

The agency was hurt by declining mail volume and mounting costs for future retiree health benefits.

From October through December of 2011, losses were $3 billion more than during the same period in 2010 — even though the final quarter is typically the strongest, due to increased holiday shipping.

Postmaster General Patrick Donahoe is warning of a possible suspension in postal operations this fall unless Congress acts to address long-term money problems.

He wants new leeway to eliminate Saturday mail delivery, raise stamp prices and reduce health and other labor costs.

The Associated Press contributed to this report. 

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China posts 1st quarterly trade deficit since 2004

9:29 PM China, deficit, posts, quarterly, since, trade No Comments

BEIJING-China its first quarterly trade deficit since 2004 on the Sunday as reported rising prices for raw materials increased its import bill.

The General Administration of customs, said in an online statement that China a trade deficit of $1.02 billion from January to March of this year posted.

However, China a small trade surplus of 140 million $, reported in March, up from a deficit of $7.3 billion in the month, it said.

Export growth in the first quarter was strong, it said, 26.5 percent compared with the previous year to $399.64 billion increase but 32.6 percent increased imports during this period to $400.66 billion.

"The value of imports a record high for the first time by more than $400 billion hit in the first quarter," said the administration.

It said that China imported more mechanical and electrical equipment, including cars, as also iron ore and soybeans, as it was a year of action and that all the prices for these commodities had shot.

Analysts expect a global Chinese trade surplus this year of 160 billion dollar$ 200 billion but say, should the narrow if oil and commodity prices remain high. Last year, China ran a trade surplus of about $16 billion per month.

A smaller trade surplus could help tribes with Washington and other Governments who are complaining that give its exporters an unfair advantage with Exchange controls and other policies Beijing is to facilitate trade.

Stronger imports could economies of China's robust growth drive were looking demand for their help. Imports benefit dependence on exports and investment by ongoing Government efforts to boost consumer spending.

China is a major importer of oil, iron ore and raw materials, and runs a deficit with suppliers such as Saudi Arabia and Australia. It pays for, by performing of multi-billion dollar surpluses with the United States and Europe.

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Online:

General Administration of customs of China (in Chinese):

http://www.Customs.gov.CN

Copyright 2011, the associated press. All rights reserved. This material may not be published, broadcast, rewritten or distributed.

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