On May 17, as investors scrambled to buy
shares, Facebook raised $16 billion in its initial public offering, at $38 a share,
that valued the company at $104 billion.
The Coca-Cola Company, the world’s largest soft-drink maker, reported
fourth-quarter profit, while
Take-Two Interactive reported earnings for
the fourth quarter and the end of its 2011 fiscal year.
Net income in the quarter fell to $1.65 billion, or 72 cents a
share, from $5.77 billion, or $2.46 a share, a year earlier, when the company
posted a gain from an acquisition. Shares of
Facebook, under the ticker FB, started selling to the public around 11:30 a.m.,
at $42.05. Net revenue for
2011 was $1.14 billion, up 49% from the previous year, 15% of revenue in the
fourth quarter came from digitally delivered content.
Coke’s fourth-quarter results benefited from continued strength from
its international beverage portfolio,
After a rocky three days, the company’s
shares went up 4 percent, at $32.25.
Take -Two Interactive enters the
next fiscal year from a position of power.
References
Facebook:
The New York Times, last accessed
18/6/12, http://topics.nytimes.com/top/news/business/companies/facebook_inc/index.html
Coca Cola:
The New York Times, last accessed
18/6/12, http://www.nytimes.com/2012/02/08/business/coca-colas-profit-beats-estimates.html?_r=1&ref=cocacolacompany
T2 Interactive:
Technorati, last accessed 18/6/12,
http://technorati.com/entertainment/gaming/article/take-two-interactive-has-a-sweet/
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