Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Facebook's NZ unit lifts 2013 sales 7.4%, posts wider loss

Facebook's tiny NZ unit lifts 2013 sales by 7.4%, posts wider loss

June 17 (BusinessDesk) - Facebook New Zealand, the local service unit of the global social media website, said sales rose 7.4 percent last year, lagging behind an 11 percent gain in expenses and resulting in a wider annual loss.

Sales rose to $846,391 in calendar 2013, from $787,830 in 2012, according to the company's annual report. All of the revenue came from Facebook Ireland under a service agreement and is unlikely to reflect the ultimate parent Facebook’s advertising sales in New Zealand. The net loss widened to $82,810 from $59,313. Income tax paid in New Zealand was $23,034, down from $28,484 in 2012.

A spokesman for the New Zealand business wasn't immediately available. Facebook maintains an office in Auckland, though it doesn't have a phone listing in the White Pages. Two employees are listed as having received restricted ordinary shares under the company's stock incentive plan while employee benefits expense rose 8.2 percent last year to $547,409.

Sales for the local unit are a drop in the ocean for Nasdaq-listed Facebook, which generated revenue of US$2.5 billion in the first quarter, up 72 percent from a year earlier. About 91 percent of revenue, or US$2.27 billion, came from advertising, while payments and other fees revenue generated US$237 million.

Facebook stock has soared 167 percent in the past 12 months, outpacing an 18 percent gain in the Standard & Poor's 500 Index and valuing the company at about US$165 billion. The shares are rated a 'buy' by analysts polled by Reuters. The company's 2012 IPO valued Facebook at US$104 billion, making it the largest-ever such valuation for a newly listed public company.

According to the Careers at Facebook website, the company doesn't have any jobs available in New Zealand, although it has one, a client solutions manager on contract, on offer in Sydney.

Facebook’s registered office in New Zealand is given as law firm Kensington Swan in Wellington.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news