Ad revenue drives Facebook earnings, Apple eyes its ‘undervalued’ shares

Social networking company Facebook logged an 82-percent increase in advertising revenue to push its profits up to $642 million (465 million euros) in the first quarter, compared to $219 million a year ago.

Revenue of $2.5 billion and adjusted earnings of 34 cents per share both outstripped analysts' expectations.

Mobile advertising revenue was one of the driving factors, as Facebook logged more and more daily users accessing the platform via smartphones or similar devices. Of Facebook's estimated 802 million daily active users, 609 million would access the site on a mobile device.

'Facebook's business is strong and growing, and this quarter was a great start to 2014,' chief executive Mark Zuckerberg said, then commenting on his company\'s $19-billion acquisition of instant messaging service WhatsApp during the quarter. 'We've made some long-term bets on the future while staying focused on executing and improving our core products and business. We're in a great position to continue making progress towards our mission.'

Solid Apple numbers, grand share plans

Apple on Wednesday reported a quarterly profit of $10.2 billion from $45.6 billion in revenue, also outstripping analysts' predictions. Chief executive Tim Cook also hinted, again, at new Apple products for 2014, without divulging details.

'We're eagerly looking forward to introducing more new products and services that only Apple could bring to the market,' Cook said.

What prompted a swift spike in Apple share prices in after-hours trade was not above-expected sales of iPhones (43.7 million units), but rather two major announcements concerning Apple stocks.

Cook and Apple said on Wednesday that the company would spend an extra $30 billion repurchasing its own shares from investors, upping the total value of shares it plans to reclaim by the end of the year to $130 billion. Cook said the company was 'confident in Apple's future' and saw 'tremendous value' in the stock.

Vocal investor Carl Icahn, who had urged the company to boost its buyback program, voiced his approval in a pair of messages on Twitter, referring to the shares with Apple's official ticker symbol on the NASDAQ stock exchange, AAPL.

Secondly, Apple authorized plans for a rarely-seen seven-for-one stock split - a move to increase the total number of shares in existence by seven while dividing their value by seven. Under such a deal, a hypothetical shareholder with one share in a company worth $70 would instead have seven worth $10 after the stock split. Less drastic stock splits, two-for-one or four-for-three, for instance, are more common.

With individual Apple shares currently trading at just over $550 dollars - below the company's 2012 peaks of around $700 but also almost three times the prices fetched early in 2010 - Cook said he wanted to make the stock 'accessible to a larger number of investors' by diluting the unit price seven-fold.

Here's How Much Money Big Tech Companies Make In Just One Second

WorldPayZinc

We all know the major tech companies have a ton of money. But just how much money do these companies bring in everyday? How about every second? 

WorldPayZinc is a website that visualizes this data, showing how their profits grow over time. 

The above image shows how much they make in one second. In just ONE second, Apple makes $1,997, while Google makes $658. Facebook brings in $81.

This GIF shows how much they make in 8 seconds.

WorldPayZinc

Read more: http://www.businessinsider.com/visualizing-how-much-big-tech-companies-make-2014-4#ixzz2zpTRji8A

Facebook acquires Oculus VR for $2-billion

Virtual reality systems maker Oculus VR has been creating a stir in the gaming and tech world since showing off their head-mounted virtual reality display, Oculus Rift at E3 in 2012. So much so, that technology giant Facebook has confirmed that they have acquired the company for $2 billion.

“Our mission is to make the world more open and connected. For the past few years, this has mostly meant building mobile apps that help you share with the people you care about. We have a lot more to do on mobile, but at this point we feel we’re in a position where we can start focusing on what platforms will come next to enable even more useful, entertaining and personal experiences. This is where Oculus comes in,” wrote Facebook creator Mark Zuckerberg in a blog post.

While the Oculus Rift system is mainly used for gaming, Facebook wants to take the technology and incorporate it into more scenarios.

“After games, we’re going to make Oculus a platform for many other experiences. Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face — just by putting on goggles in your home.”

Zuckerberg added that virtual reality was once a far-fetched concept, but that has all changed with the advent of technology.

“Virtual reality was once the dream of science fiction. But the internet was also once a dream, and so were computers and smartphones. The future is coming and we have a chance to build it together. I can’t wait to start working with the whole team at Oculus to bring this future to the world, and to unlock new worlds for all of us,” he concluded.

Sony warns of battery fire risk in Vaio computers

Sony issued a warning for its new Vaio Fit 11A laptops on Friday, announcing that the computers could overheat and catch fire. The Japanese electronics giant announced that it had sold about 25,900 units of the computer model globally, and has asked customers to stop using the laptops.

'We are asking customers to stop using their PC immediately, unplug the cable and stop using them,' Sony announced in the statement, adding that an overheated battery could also damage part of the computer.

Sony\'s Vaio Fit is a tablet computer that can be turned into a traditional laptop as well. Its lithium-ion batteries are produced by Sony's Japanese rival Panasonic. So far, a total of three computers sold in Hong Kong, China and Japan have caught fire, according to Sony.

The company also announced that it would issue more details, including repair options, over the next week and that it was considering a recall of the model.

Sony entering the realm of Virtual Reality

Electronics manufacturer Sony yesterday unveiled the development of Project Morpheus, a Virtual Reality (VR) system that works in conjunction with the PlayStation 4.

While the unit is only in prototype phase, Sony is preparing for commercial launch in the near future.

“At SCE we view innovation as an opportunity to build on our mission to push the boundaries of play,” said Shuhei Yoshida, President of SCE Worldwide Studios. “Project Morpheus is the latest example of innovation from SCE, and we’re looking forward to its continued development and the games that will be created as development kits get into the hands of content creators.”

According to a press statement, “Morpheus enables developers to create experiences that deliver a sense of presence – where players feel as though they are physically inside the virtual world of a game. Presence is like a window into another world that heightens the emotions gamers experience as they play.”

The company detailed how the system makes use of a visor style head-mounted display and works together with the PlayStation Camera to deliver a VR experience.

“Inertial sensors built into the head mount unit and PlayStation Camera accurately track head orientation and movement so as the player’s head rotates, the image of the virtual world rotates naturally and intuitively in real-time. Furthermore, in supporting games, the player can use a PlayStation Move Motion Controller as an object, such as a sword,” they explained.

Revolutions in bike design

The Halfbike is a tricycle, made in Bulgaria, designed to be ridden standing up in order to work muscles that are not used when riding a conventional bicycle. The front wheel is driven by pedals while the back wheels pivot, so the rider steers by leaning from side to side.

Mihail Klenov, a co-inventor of the Halfbike, explained that it has taken some time to develop the idea: 'I liked the idea very much and it took us several years of discussions and improvements to get the present result. We built several prototypes to see how the idea could be developed into a working model.'

The tricycle has an aluminium frame and a plywood pole steering device, meaning it weighs just 7.7 kg. It costs around 600 euros and takes some time to learn to ride.

In Lithuania, they are developing another unusual bicycle. It is called the Rubbee and offers riders the chance not to pedal at all! This lightweight electronic device can be attached to any bicycle in under a minute, and once it switched on, riders can let the engine do the work.

Gediminas Nemanis, the inventor of the Rubbee, explained: 'Rubbee is unique in its method of transferring energy directly to the bicycle tyre because it doesn’t use chains, drives, belts, cogs, or gears.'

The device weighs 6.5 kg, reaches a top speed of 25 km/h, and costs around 900 euros.

Turkish prime minister talks of ‘shared pain’ in statement on Armenian killings

Turkish Prime Minister Recep Tayyip Erdogan has offered what has been described as 'unprecedented condolences' to the grandchildren of Armenians killed in World War One by Ottoman soldiers.

The statement unusually released in nine different languages was issued on the eve of the 99th anniversary of the deeply contested deaths. Turkish officials described it as an 'historic step'.

The exact nature and scale of what happened when fighting started has soured relations between Turkey and Armenia, a former Soviet state.

Erdogan highlighted what he called the 'shared pain' of the events.

For many the statement was a complete surprise with one commentator saying it was significant he talked about shared pain. On the streets of Istanbul it was well received.

'I think this is positive. There may have been lots of mistakes made by Turkey during its history. It is good to find those mistakes and accept them. As Turkish people, with all the minorities it is perfect to live in unity,' said Istanbul resident Yunus Ozebek.

In Yerevan Armenians gathered for the annual candle procession to mark the anniversary of the killings.

Many felt the statement did not go far enough and demanded recognition of genocide and compensation.