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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

(FB)
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Facebook : commits $100 million to support news media hurt by virus crisis

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03/30/2020 | 08:33am EDT
FILE PHOTO: A Facebook logo is displayed on a smartphone in this illustration

Facebook Inc on Monday pledged $100 million in financing and advertising spending to support news organizations, including local publishers in the United States, reeling from pressure due to the coronavirus pandemic.

News publishers, especially print media, have taken the brunt as many advertisers pulled their marketing budgets to rein in costs because of virus-related uncertainty.

Vatican's 160-year-old newspaper L'Osservatore Romano, which suspended printing last week, was the latest in line of a number of print publishers struggling to operate in safe conditions after the outbreak.

Facebook's donation include $25 million in emergency grant funding for local media, and $75 million in marketing spend for news organizations globally, it said.

The social network said the first round of its grants went to 50 local newsrooms in the United States and Canada.

Corporate America has pitched in several ways to assist from the fallout of the fast spreading virus, even as many of the companies have been forced to dramatically scale back operations.

On Friday, Google-parent Alphabet Inc said it would donate more than $800 million in funds and ad credits to businesses, government and health organizations.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)

Stocks treated in this article : Facebook, Alphabet Inc.
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.08% 1433.52 Delayed Quote.7.03%
FACEBOOK -0.16% 225.09 Delayed Quote.9.67%
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Financials (USD)
Sales 2020 77 041 M - -
Net income 2020 20 813 M - -
Net cash 2020 63 175 M - -
P/E ratio 2020 31,3x
Yield 2020 -
Capitalization 641 B 641 B -
EV / Sales 2019
EV / Sales 2020 7,50x
Nbr of Employees 48 268
Free-Float 83,8%
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Technical analysis trends FACEBOOK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Average target price 241,27 $
Last Close Price 225,09 $
Spread / Highest target 33,3%
Spread / Average Target 7,19%
Spread / Lowest Target -46,7%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
FACEBOOK9.67%641 305
MATCH GROUP, INC.8.44%25 300
TWITTER-3.37%24 254
LINE CORPORATION0.75%12 005
SINA CORPORATION-21.59%2 047
NEW WORK SE-3.77%1 756