Jan 31 - Facebook doubled its mobile advertising revenue in the fourth quarter and Electronic Arts slashes 2013 outlook as industry struggles.
▲ Hide Transcript
▶ View Transcript
The three Times Square this Thursday from Reuters world headquarters in New York. So that trends today starting with the Bluetooth mobile devices. But taking advantage of more use of Smartphones it -- a doubling of mobile advertising revenue -- that was below the estimate of some analysts. Overall revenue climbed 40% beating forecasts while profit excluding items also topped the consensus. The stock now -- 29 dollars in the premarket and right now it is about also about -- At least two analysts cut their rating on the stock while one raised his ratings bit of a model picture there. The move to Smartphones is part of a larger move to the Internet and away from other activities. That's reflected in earnings at Time Warner Cable it added 75000. High speed Internet users. And lost 129000. Video customers Time Warner -- residential high speed data revenue for the quarter rose seventeen point 2%. -- you price increases and more subscribers opting for higher priced services however the addition of 75000 high speed customers was below forecasts. The climate subscribers not helping companies like Viacom the owner of MTV Nickelodeon and other cable networks so lower advertising revenue at its cable division. It also experience weak results and that's Paramount Pictures. Quarterly sales falling 16%. Net income also fell. Other interest -- Internet is taking a wait time spent from playing video games disappointing sales of metal of honor contributing to weaker than expected holiday quarter. For electronic arts. And I also slashed its fiscal 2013 earnings forecast the company attributing some of the weakness of the lack of strength like -- and the economy. Some analysts think the company is being overly conservative. Regardless of where consumers are spending their time and money thing is clear they are paying with credit cards more and more. Mastercard's fourth quarter results accelerated as more people chose plastic over cash. Revenue rose 10% at its fastest in three quarters the value of card -- purchases rose 13% worldwide. Volume -- well worldwide including nearly 20% in Asia the Middle East and Africa. And finally a trend in China one wacky philanthropist is trying to reverse. Amid the country's worst ever recorded smog. Chinese tycoon Jen Chang -- be out -- folks to get a smile. I think the error that it is -- took to the streets to give away the hands of fresh air. Reportedly collected from our long and Christine regions of China. Each can company taste itself and I think in the form of the slogan. Ten wedding be out a good man you mean below. Below a beating that guy. Spending his fortune in the recycling business and has for a million followers on his Twitter like micro blind. That is the latest in Times Square this Thursday you -- follow us on Twitter at Reuters Insider get more hundred videos at borders dot com slash legacy. I mean super card this is.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code