Page 25 - ARUBA TODAY

BUSINESS Thursday 2 February 2017
A25

Facebook beats 4Q earnings, revenue forecasts

MENLO PARK, Calif. (AP) Menlo Park, California- Eleven analysts surveyed
— Facebook blew past based company said it by Zacks expected $8.47
Wall Street’s expectations had net income of $1.21, billion. That’s up 51 percent
yet again with its quarterly up from 54 cents per share. from revenue of $5.84 bil-
earnings report, despite Earnings, adjusted for one- lion a year ago.
some concerns that its “ad time gains and costs, were Shares rose $3.08, or 2.3
load,” or the number of ad- $1.41 per share in the latest percent, to $136.31 in after-
vertisements it can show quarter. hours trading. The stock
users without clogging up The results beat Wall Street had closed up $2.91, or 2.2
their feed, has reached its expectations. The average percent, at $133.23 in the
limit. estimate of 16 analysts sur- regular trading session.
Facebook on Wednesday veyed by Zacks Investment As of Wednesday’s close,
reported fourth-quarter Research was for earnings Facebook Inc. shares had
earnings of $3.56 billion, up of $1.34 per share. increased 16 percent since
sharply from $1.56 billion The social media company the beginning of the year,
in the same period a year posted revenue of $8.81 while the Standard & Poor’s
earlier. billion in the period, which 500 index has increased al-
On a per-share basis, the also beat Street forecasts. most 2 percent. q

A Facebook employee walks past a sign at Facebook headquarters in Menlo Park, Calif. Face-
book blew past Wall Street’s expectations yet again with its quarterly earnings report, despite
some concerns that its “ad load,” or the number of advertisements it can show users without clog-
ging up their feed, has reached its limit.
(AP Photo/Jeff Chiu)

Nestle USA moving HQ from California to Virginia

ARLINGTON, Va. (AP) — the others will head to the that this great company
Chocolate maker Nestle is company’s divisions in Ohio will locate in a property
moving its U.S. headquar- and Missouri. that has sat empty as the
ters from California to Vir- Nestle expects to com- area and our entire state
ginia, relocating to a part plete the move by the end grappled with defense cuts
of the country where the of 2018. and sequestration.” McAu-
company says it has more The Rosslyn headquarters liffe said in a statement.
customers. will occupy more than To lure the company, the
Nestle USA, a subsidiary of 200,000 square feet of of- state approved a $10 mil-
Swiss-based Nestle S.A., fice space in the tallest lion in economic incentives
announced the move building in the D.C. region. and grants, and Arlington
Wednesday in the Rosslyn That building has been va- County contributed $6 mil-
section of Arlington County cant since its 2013 opening. lion.
at an event with Gov. Terry The Rosslyn area, just across Nestle USA said 85 percent
McAuliffe. the Potomac River from the of its top customers and 75
Nestle USA is currently nation’s capital, has suf- percent of its factories are
based in Glendale, Cali- fered from a slowdown in in the eastern U.S.
fornia. Lisa Gibby, a Nestle federal job growth. McAu- In addition to candy, Nes-
representative, said there liffe has been working to tle USA brands include Pu-
are about 1,200 employ- diversify northern Virginia’s rina pet care, Perrier spar-
ees at the existing head- job base and reduce its re- kling water, Hot Pockets
quarters. About 750 jobs liance on federal spending. frozen food and Edy’s ice
are moving to Virginia and “I am particularly proud cream.q