March 28, 2014 |
Profit at Tribune Co., the parent of the Los Angeles Times and other newspaper, radio and television properties, fell sharply last year amid a further decline in newspaper advertising and a significant drop in earnings at its broadcast division. The Chicago media company reported net income of $241.6 million for the year, down 43% from $422.5 million in 2012. Total operating revenue fell 8% to $2.9 billion, with a 6% decline in publishing and an 11% drop in broadcasting. For the fourth quarter, revenue dropped $97 million, or 11%, to $773 million, partly because the quarter included one fewer week than the previous year's final three months.
February 13, 2014 |
SAN FRANCISCO -- Children's advocates are challenging a settlement in a class-action lawsuit in an effort to require Facebook to get explicit permission from parents before using the personal information - as well as the images, likes and comments - of teens in advertising on the giant social network. The advocates want the U.S. 9th Circuit Court of Appeals to vacate the Facebook settlement. They say the settlement violates the law in seven states including California that require parents' permission before a child's image can be used in advertising.
February 3, 2014 |
SAN FRANCISCO -- No pressure, Twitter. Fair or not, Facebook's blockbuster earnings last week has investors anticipating very good things from its social networking rival. Twitter on Wednesday will report its first quarterly results as a publicly traded company, giving investors a first glimpse of its progress in growing advertising revenue and its user ranks. Twitter shares have been on a tear since the company made its debut on the New York Stock Exchange in November. Shares have surged to their current trading price of $66 from $26. They jumped again at the end of last week after Facebook reported its fourth-quarter earnings on hopes that Twitter can pull a rabbit out of its advertising business the way Facebook has for three straight quarters.
January 30, 2014 |
SAN FRANCISCO -- Facebook's stock soared to a record high of $62.50 in midday trading Thursday, lifted by a wildly better-than-expected fourth-quarter showing, especially when it comes to clocking mobile advertising revenue. The giant social network, which turns 10 next week, said Wednesday that for the first time, more than half of its ad revenue came from mobile. And, at the end of 2013, more than three quarters of Facebook's 1.23 billion users logged in using their mobile devices at least once a month.
December 27, 2013 |
Twitter is said to be flying too high and too fast. That's the opinion of Macquarie Research Equities, which downgraded Twitter stock Friday from "neutral" to "underperform," the firm said in a note. "We continue to believe that Twitter as a company has a bright future and many opportunities ahead," analysts said. "However, as a stock, we believe nothing has changed over the last 15 days to justify the rise in valuation. " Twitter Inc.'s shares have nearly tripled since its initial public offering last month, including big gains in recent days.
December 23, 2013 |
SAN FRANCISCO -- With investors hoping Facebook and Twitter can ramp up their advertising revenue, the companies' stocks surged Monday to record highs. Facebook gained nearly 5% to $57.77, while Twitter shot up almost 8% to $64.54. Facebook's stock price has more than doubled this year. Twitter has nearly doubled since its initial public offering early last month. Investors are seizing on the momentum of the companies' ad revenue. Research firm EMarketer says both companies will expand their share of the digital ad market.