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

 

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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