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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news