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Business Matters: Facebook Revenues Increase Dramatically

News

Facebook Revenues Increase Dramatically

03/11/2016 GMT

BBC World Service - Business Matters, Facebook Revenues Increase Dramatically

Facebook quarterly revenues are up by more than fifty per cent; plus US coal country

Facebook has reported its quarterly revenues are up by more than fifty per cent thanks to strong mobile advertising; plus a visit to US coal country and the state of West Virginia

Companies are used to seeing revenues dip and rise. Not Facebook, it seems, after the company founder Mark Zuckerberg reported the firm's latest stellar quarterly result in an online video for investors. But there was a sting in the tail of the online event - courtesy of the Chief Financial Officer, Dave Wehner, and that prompted some stock dumping - pushing Facebook's price down more than 7 per cent in after hours trading. So - to interpret the good news and the less good projection, we're joined by Kurt Wagner, senior editor for social media at recode.net.

The US Federal Reserve left interest rates unchanged again on Wednesday - six days before Americans choose a new president. But there was a hint - again - that rates may rise soon. Chris Low with FTN Financial in New York joins us to discuss the decision. What's worrying Democratic Party activists is that Mr Trump's anti-establishment message appears to be striking a chord with voters in areas where traditional industries have suffered - like the coal mining region of West Virginia, where communities want anything but the status quo - as the BBC's Michelle Fleury reports.

We're not maybe down to the wire yet - but the wire is in sight. With his party increasingly freaked out by the latest post-FBI-intervention polls, President Obama has again weighed in on behalf of his former rival and former Secretary of State, Hillary Clinton. He warned voters in North Carolina that progress made during his eight years in office would be wasted if Donald Trump were to win on the eighth. 

Throughout the hour Fergus Nicoll is joined in the studio by Kwasi Kwarteng - Conservative Party Member of Parliament, historian, former banker and member of the Commons Finance Committee, and from Washington DC by Dave Shaw - formerly bureau chief for Marketplace - now with Scripps News.

(Photo Credit: The "Facebook" logo on the sidelines of a press preview of the so-called "Facebook Innovation Hub" in Berlin, October 3, 2016. TOBIAS SCHWARZ/AFP/Getty Images)

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