Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

FACEBOOK

(FB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Netflix, Facebook to cut data traffic in India to ease network congestion

share with twitter share with LinkedIn share with facebook
share via e-mail
03/24/2020 | 12:44pm EDT
FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles

Streaming service Netflix Inc and social media giant Facebook Inc said on Tuesday they would reduce the amount of data their services use to ease congested telecoms networks in India, where millions are using home internet amid a lockdown to contain the coronavirus outbreak.

Netflix will reduce traffic over Indian telecom networks by 25% over the next 30 days, the company said in a statement, following similar moves in Europe to help internet service providers experiencing a surge in usage.

The producer of original shows such as "The Crown" and "Sex Education", Netflix has over 16 million paying users in the Asia-Pacific region, but it does not disclose subscriber figures for India.

Facebook said it will temporarily reduce bit rates, or cut picture quality, for videos on Facebook and Instagram in India, the company's biggest market by number of users.

India has enforced lockdowns across several cities, with Prime Minister Narendra Modi on Tuesday announcing a nationwide shutdown from midnight for 21 days to stem the spread of the coronavirus.

Mobile networks are likely to come under increased pressure as people increasingly use home internet to work and stream online content.

Earlier this week, Amazon.com Inc's Prime Video service said it had begun reducing streaming bit rates in India while Walt Disney Co-controlled local rival Hotstar said it was prepared to reduce the bit rate for its high definition streams if the need arose.

Amazon and Alphabet Inc's YouTube have also cut picture quality in Europe to prevent overload.

(This story has been refiled to fix typo in first paragraph.)

(Reporting by Akanksha Rana in Bengaluru and Sankalp Phartiyal in New Delhi, Editing by Sherry Jacob-Phillips and Angus MacSwan)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 1.08% 1433.52 Delayed Quote.7.03%
AMAZON.COM, INC. 1.72% 2442.37 Delayed Quote.32.17%
FACEBOOK -0.16% 225.09 Delayed Quote.9.67%
NETFLIX, INC. 1.52% 419.73 Delayed Quote.29.72%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on FACEBOOK
05/30JACK DORSEY : With fact-checks, Twitter takes on a new kind of task
RE
05/29Wall Street ends mostly higher as U.S.-China spat simmers
RE
05/29Saudi Arabia's PIF gets $40 billion from foreign reserves to fund overseas in..
RE
05/29FACEBOOK INC : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
05/29TWITTER : Flags Trump Tweet About Minneapolis Protests for 'Glorifying Violence'..
DJ
05/29TWITTER : Flags Trump Tweet About Minneapolis Protests for 'Glorifying Violence'..
DJ
05/29TWITTER : Flags Trump Tweet About Minneapolis Protests for 'Glorifying Violence'..
DJ
05/29Twitter, internet group oppose U.S. rules requiring visitors to disclose soci..
RE
05/29TWITTER : Flags Trump Tweet About Minneapolis Protests for 'Glorifying Violence'..
DJ
05/29TWITTER : Flags Trump Tweet About Minneapolis Protests for 'Glorifying Violence'..
DJ
More news
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%
Chart FACEBOOK
Duration : Period :
Facebook Technical Analysis Chart | MarketScreener
Full-screen chart
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