Webwire: Facebook's profit laid bare; MEP warns on anti-piracy act
Facebook revealed it made a billion dollars in profit in 2011 in a filing seeking an IPO. The firm hopes to raise $5 billion (€3.8 billion) from the listing, which could see the firm valued at up to $100 billion.
A Member of the European Parliament (MEP) claims proposed anti-piracy laws he was in charge of brokering could restrict web freedom and even limit the public’s access to lifesaving drugs. Kader Arif quit as lead negotiator of the Anti-Counterfeiting Trade Agreement last week.
LG Electronics’ mobile phone division halted a run of seven loss making quarters with a 12 billion won (€8.1 million) operating profit in 4Q11, despite a drop in sales.
RIM’s new chairwoman, Barbara Stymiest, plans further changes to the vendor’s board, hinting she may focus more on Asia Pacific to leverage the addition of an Indian-born investor to the firm’s backers.
Qualcomm’s calendar 4Q profit – the firm’s fiscal 1Q12 – grew 19% year-on-year to $1.39 billion (€1 billion). The firm’s revenue hit $4.68 billion, some $10 billion higher than analysts predicted.
Cigarettes and alcohol are easier to resist than social networks, research by a US business university shows.
Angry web users brought down Ukrainian government websites yesterday, in retaliation for the closure of a popular file sharing website.