Thursday, August 5, 2021

Facebook Rises as CEO Says He’s Addressing Phone Missteps

Bloomberg: On Tuesday, Facebook CEO Mark Zuckerberg gave his first interview since the company’s IPO in May, and it had an immediate impact on the company’s stock price. The company’s share price had fallen 49 percent since its debut; however, after Zuckerberg’s appearance at the TechCrunch Disrupt conference in San Francisco it climbed back up 8 percent to $20.99.

Zuckerberg told the conference audience, “Now we are a mobile company.” He added, “Over the next three to five years I think the biggest question that is on everyone’s minds, that will determine our performance over that period, is really how well we do with mobile.”

The CEO admitted that the stock price dropoff had dampened employee morale. “Sure, maybe some people will leave,” he said. “But I think it’s a great time for people to join and a great time for people to stay and double down.”

Similar articles

Latest Articles

Data Belongs in the...

In 2012, IBM made an oft-quoted claim that 90 percent of the world's data has been created in the last two years. They grossly...

Google Cloud Rolling Out...

WASHINGTON, D.C. — Google Cloud is helping the government sector with zero trust. The set of services are designed to help U.S. federal, state, and...

CFOs Committing to Digital...

STAMFORD, Conn. — More CFOs are planning to increase their spending on digital than any other part of the business in 2021. Eighty-two percent of...

SAP and IBM Partnering...

WALLDORF, Germany and ARMONK, N.Y. — SAP and IBM are working together to help financial institutions accelerate cloud adoptions and “modernize operations.” SAP plans to...