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Facebook said Wednesday that new data privacy rules and forthcoming privacy-focused product changes would slow its revenue growth and significantly raise expenses, driving down its shares in after-hours trade even as quarterly revenue topped estimates.
The outlook came soon after the company agreed to pay $5 billion to settle a data privacy probe and disclosed that it faces a new U.S. government antitrust investigation.
While the quarterly results and the settlement with the U.S. Federal Trade Commission over privacy issues demonstrate significant progress in tackling two of Facebook’s biggest challenges, the newly disclosed FTC antitrust probe and the continuing privacy scrutiny show that hurdles remain on the road ahead. Facebook said the FTC had told it in June of the antitrust probe.
Shares of Facebook, which also owns WhatsApp and Instagram, fell 1% after hours to $202.50 after initially rising on its quarterly results. The shares have recouped most of the losses sparked a year ago on concerns of slowing usage and the costs of improving privacy, which had spurred the biggest ever one-day drop in Facebook shares.
A ‘significant investment’
On Wednesday, Facebook’s chief financial officer, Dave Wehner, told analysts that the FTC settlement would require “significant investment” in people and technology. He said ad revenue would be affected by new privacy laws rolling out globally, changes in privacy rules by the operating systems on which Facebook relies, and the company’s tweaking of its own services.
Facebook has increased the number and variety of ads, which are the foundation of its business, as users gravitate toward private and interactive features such as Stories. It has responded to political and regulatory pressure by expanding programs and promises related to securing data and policing objectionable content.
The initiatives remain a drag on earnings, but the company’s wealth of information on its users remains valuable to advertisers.
Facebook, which had set aside $3 billion in the first quarter to cover a regulatory settlement, said it took a $2 billion charge in the second quarter to account for the remainder of the $5 billion settlement with the FTC. The settlement is still subject to court approval.
Facebook also acknowledged in a statement the U.S. Justice Department’s announcement Tuesday of an “antitrust review of market-leading online platforms.”
Steady user numbers
For the second quarter, Facebook reported 2.7 billion monthly users and 2.1 billion daily users across Facebook, Messenger, Instagram and WhatsApp, both figures about the same as last quarter.
Quarterly revenue rose to $16.9 billion from $13.2 billion a year ago, beating analysts’ average estimate of $16.5 billion, according to IBES data from Refinitiv.
“News regarding FTC and data privacy, along with antitrust investigations and additional headline risks likely to continue to hang over the stock, but it looks like the platform still remains a very popular destination for the users,” Morningstar analyst Ali Mogharabi said in an email to Reuters.
Facebook has faced questions for the past three years from regulators and users worldwide over how a service designed to share news and events with friends and family has become a platform for spreading misinformation about politics, health and other subjects. A series of data breaches has prompted investigations in several countries.
The U.S. Justice Department said Tuesday that it would examine complaints that some “search, social media, and some retail services online” are engaging in anti-competitive practices, an apparent reference to big tech companies including Facebook.
The FTC inquiry that was settled Wednesday stemmed from allegations that Facebook inappropriately shared information belonging to 87 million users with the now-defunct British political consulting firm Cambridge Analytica. A Netflix documentary about the scandal, “The Great Hack,” premiered Wednesday.
The fine, which some lawmakers have called “a slap on the wrist,” cut second-quarter profit to $2.6 billion, compared with $5.1 billion, a year earlier.
Excluding the fine and a $1.1 billion one-time tax expense, earnings would have been $1.99 per share, Facebook said.
The tax expense stemmed from a court ruling, in which the company was not involved, that it said required accounting changes for stock-based compensation.
Costs jumped 66% compared to a year ago, to nearly $12.3 billion, as Facebook continues to ramp up spending to improve content and security across its platforms.
Facebook has said it expects expenses and revenue growth to come back closer to even but several hurdles remain.
In emerging markets such as India, revenue is lagging behind Facebook’s number of users. Efforts to enter new businesses, such as recently announced plans for a cryptocurrency called Libra as part of a move into digital payments, have faced pushback from lawmakers and regulators.
Meanwhile, the company is developing additional hardware products, which can be more costly to build than apps.
There were bright spots in the second-quarter results. For instance, revenue from Europe accelerated for the first time in several quarters, growing 24% compared to 20% last quarter. (VOA)
Bollywood actor Arjun Kapoor was never really keen on exploring horror comedy but the story of 'Bhoot Police' pushed him to try his hand at the genre. The actor said, "It's not a genre that I was looking for, script-wise. When I heard it, when I read it, what worked for me was the camaraderie between the brothers, the friction and the banter between them. So I quite liked the friction, the brotherhood and at the same time the love-hate relationship and the witty tone."
The film is set for its world TV premiere on Star Gold.Unsplash
He further said, "There was a certain canvas and a certain color created in the script itself, so my decision to say yes to the film came from the director's vision, and thankfully it came at a point where I knew the passion Saif had, also because everybody knew in the industry he is so bullish on the script." On his camaraderie with Arjun in the film, Saif mentioned, "Arjun and I have a relationship off-camera too; he is a family friend and we have known each other for ages! On camera, we don't take each other for granted and bring out the best we can. We had a good time working together and that shows in the movie."
The film is set for its world TV premiere on Star Gold, sharing his excitement for the premiere, Arjun said, "I cannot wait for the audiences to enjoy the World TV Premiere of our movie, 'Bhoot Police' on 23 January, Sunday at 8 PM on Star Gold." The 'Ishaqzaade' actor added, "'Bhoot Police' is an ideal family watch. Usually, horror-comedies are not children-friendly. But Bhoot Police is the kind of film the whole family can watch together over dinner. It is not often that you get a film that is mildly frightening and can be watched with the whole family. The kids will definitely enjoy watching the movie with their family!"
The actor said, "It's not a genre that I was looking for, script-wise."Unsplash
Speaking about her role in 'Bhoot Police', Yami Gautam said, "The character Maya that I play in 'Bhoot Police' was physically challenging. We had to shoot under tough weather conditions because the cold was bitter. There were a lot of outdoor sequences and keeping the light and weather in mind, we had to pack a lot within a day, every day." She continued, "Whenever I am in Himachal, I feel a sense of belonging; when I see the sunrise, those snow-capped mountains despite long tiring night shoots. It is my birthplace and shall always have a special place in my heart." (IANS/SP)
(Keywords : Arjun Kapoor, Yami Gautam, Saif Ali Khan, Bhoot Police, horror comedy, challenging, weather, mountains, genre, script, director, camera, movie.)
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Are you still doing things the incorrect way when it comes to working out? Whether you realise it or not, the correct sports bra or leggings can help you achieve your fitness objectives faster or perhaps exceed them. This is something that a high-performance athlete sincerely believes in. Because it's critical to choose clothing that suits your needs in order to achieve the desired result.
This is the era of flexible work schedules and rapid acceptance of a healthy way of living. Everyone is becoming more aware of the importance of keeping good mental and physical fitness, and the sportswear business is now helping to make their lives easier. When you feel good about yourself while working out, it motivates you to go above and beyond. Fitness aficionados today not only exercise at home, but also go to the gym or participate in sports on a regular basis. Comfortable, performance-oriented clothing underpinned by the latest advancements has become a need.
Also Read : How to choose a workout that fits your needs
Consumers nowadays seek out sports equipment, wearables, and accessories that will keep them ahead of the game and provide them with the feeling of a high-performance athlete. Adaptable gear like leggings, sweatpants, and activewear have fast become integral components of everyone's professional wardrobes as business is conducted in a hybrid arrangement, i.e. both from home and from the workplace.
Clothing must develop to assist clients effortlessly move throughout their day as fitness evolves and becomes more accessible. Apparel with cleverly designed pockets, mesh ventilation in crucial areas, binding apparel for no-ride-up yoga sessions, and other types of enclosures and supports to assist you work out without discomfort are all becoming more common. These garments have been tried and tested by thousands of customers, who have liked and used them. It has now become a way of life for them. For runners and gym goers all over the world, products like shorts with phone pockets have become standard.
Comfort is style, independence.Unsplash
Comfort is confidence
Comfort is style, independence, and the self-assurance we project, all of which contribute to our ability to grow and adapt. The most basic requirements a buyer looks for when investing in comfortable clothing and athleisure are maneuverability, fit, and fabric quality. Varied people have different definitions of comfort. While some high-intensity users prefer lighter, thinner, and faster drying materials so that they may exercise without smelling or sweating, others prefer non-clingy, heavier fabrics that give them the courage to exercise without fear of being seen. Stretch has also become a must in sportswear to ensure that users are not restricted in their movements. Our full stretch dry fit pants, stretch daily shorts, and high stretch power leggings are among the most popular.
Activewear - All day wear
Times and lifestyles have evolved since the pandemic, and this hybrid environment need adaptable attire. Dry-fit cotton or cotton-like clothes with good stretch, a casual look but a very functional appeal has become the norm in recent years. Leggings have evolved into an all-day, all-time wear for women, and goods like our leggings with phone pockets have been a big popular with active-wear clients. Similarly, for men, stretch daily pants and cotton joggers with basic yet elegant designs, as well as a comfortable form and utilitarian appeal, have become commonplace.
Stretch daily shorts, and high stretch power leggings are among the most popular.Unsplash
In this new period, times have changed, requirements have changed, and the entire community's perspective has altered. The acceptability and demand for clothes that fits in all life situations and makes you feel confident while wearing it will result in a worldwide and domestic market revolution. The activity and sportswear market is on the verge of a revolution, and firms that understand client needs and provide gear that meets them will thrive. Some firms are already concentrating on tackling this issue and bringing about a true market revolution. As a result, people now have the option of purchasing apparel that effortlessly fits with their lifestyle and provides not only exceptional performance but also excellent comfort during their busy hobbies. (IANS/SP)
(Keywords : innovation, apparel, fitness, goal, clothing, requirement, community, perspective, athleisure, healthy.)
A laptop has evolved from being a luxury item to becoming an essential utility in today's world. Laptops make it easier for professionals to work on the go as more and more of our work shifts online. Whether you're attending a conference or travelling to another location, a laptop allows you to bring your work with you.
Advantages of Gaming laptops:
Gaming laptops are ideal for work since they offer efficient technology that allows them to handle demanding office activities without slowdowns. A gaming laptop's primary benefit is its hardware, including a strong CPU and graphics card. These two factors can significantly boost non-gaming activities. A fast CPU will increase the performance of every activity. In short, gaming laptops are built to be speedy.
A gaming laptop's primary benefit is its hardware, including a strong CPU and graphics card. | Unsplash
Disadvantages of Gaming Laptops:
Gaming laptops are much costlier than regular laptops and usually big and heavy as the hardware used in such laptops is bulkier. Hence, more heat gets generated, which needs proper ventilation to cool down. They consume a lot of power, and therefore their battery life is poor, and you would need to connect a charger almost all the time to use your laptop.
Are gaming laptops good for work/ school?
Depending on the type of work you conduct, the answer will vary. A gaming laptop may not be necessary for standard Microsoft Office tasks such as creating Powerpoint presentations, writing documents in Microsoft Word, and using Excel. Almost any standard laptop is capable of running such apps without any issue. On the other hand, a gaming laptop may be a suitable choice if your job requires you to perform graphics-intensive jobs such as video editing, Photoshop, graphic design, or animation.
Although a gaming laptop might be handy at work, there are certain disadvantages to using one. | Unsplash
Although a gaming laptop might be handy at work, there are certain disadvantages to using one. The most significant drawback is that you probably don't want to take the chance of damaging your pricey gaming laptop. While at work, you'll have to pack and unpack your laptop several times, and there's always the possibility that you'll drop it or accidentally spill something on it. I would not recommend a gaming laptop for school use. I'd be content with a less expensive option, such as a laptop that lacks a dedicated graphics card but has a powerful enough CPU for research. The reason for this is that if your gaming laptop fails, you will not be forced to spend hundreds of dollars on a replacement.
Another key consideration is that gaming laptops are typically large and bulky, making them inconvenient to carry about on a daily basis. Ordinary laptops, which are smaller, lighter, and have a longer battery life than gaming laptops, are more convenient.
The majority of gaming laptops are large and hefty, and you'll likely get tired of lugging them after a few days of use. | Unsplash
Overall, gaming laptops are a little excessive for work or school. The majority of gaming laptops are large and hefty, and you'll likely get tired of lugging them after a few days of use. Consider compact laptops that can be readily transported in a bag so that you can quickly pull them out anytime you need to, without worrying about connecting a charger continuously while using or running out of battery.
For those who have the financial means, aren't concerned about weight, and believe that the additional power supplied by gaming laptops would be beneficial to their profession and education, a gaming laptop can be considered.
For those who have the financial means a gaming laptop can be considered. | Unsplash
Which gaming laptop is best for gaming and work?
Asus ROG Zephyrus G15, Acer Aspire 5, Razer Blade 14, Dell G5 15 and MSI GS66 Sleath are good gaming laptops that are well suited for work.
Can a gaming laptop be used for office work?
In demanding office work like graphic designing or editing and developing, gaming laptops are a fantastic choice, but if the convenience of carrying and battery life is important to you, opt for a mid-range laptop.
Are gaming laptops suitable for everyday use?
It depends on your use. If you solely game on your laptop, a gaming laptop is ideal for everyday use.
(Keywords: gaming laptops, top 5 gaming laptops, work, office work, school, college, work laptops)