Social Media Newsfeed: Facebook Earnings Call | Lawsuit Against Twitter

In its third-quarter earnings call, Facebook announces revenue of $2.02 billion, up 60 percent in the year-earlier quarter. A pair of investment firms sue Twitter. These stories, and more, in this Morning's Social Media Newsfeed.

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3Q Earnings Call: Facebook Revenue Up 60 Percent, Reaches 1.19B Monthly Active Users (AllFacebook)
Facebook reported its third-quarter earnings at the close of business Wednesday, posting revenue of $2.02 billion, up 60 percent from $1.26 billion in the year-earlier quarter, and GAAP (generally accepted accounting principles) net income of $425 million, or $0.17 per share, compared with a net loss of $59 million (-$0.02) in the third quarter of 2012. According to the company, its revenue from advertising was $1.8 billion in the third quarter of 2013, up 66 percent from the prior-year period. Inside Facebook Mobile advertising revenue accounted for 49 percent of all accounting intake. Facebook now has 1.19 billion monthly active users (MAUs), 728 million daily active users (DAUs), 874 million mobile MAUs and 507 million mobile DAUs. The New York Times Facebook said prices for mobile ads remained high, and users were clicking on them in their news feeds more frequently. That bodes well, analysts said, for its smaller rival, Twitter, which takes a similar approach to mobile ads and is preparing to sell stock to investors in an initial offering as soon as next week. Forbes Although investors initially were wowed, during the earnings call chief financial officer David Ebersman mentioned a couple of facts that appeared to spook investors and eliminated most of that 15 percent jump. For one, he said Facebook would not increase the number of ads its users see in their newsfeeds, as it has in recent quarters. Ebersman also cited a decrease in the number of younger teens using the service daily.

Two Investment Firms Almost Sure They Remember Being Hired to Sell Twitter Stock (Bloomberg)
This lawsuit against Twitter is pretty hard to follow, but don’t let that keep you from enjoying it. It seems that two investment advisers, Continental Advisors SA and Precedo Capital Group, sued Twitter because, let me see if I can get this right, a company called GSV Capital asked Continental and Precedo to sell some Twitter shares, and Continental and Precedo were pretty pretty sure that Twitter was really running the sale, though they never talked to anyone at Twitter, it just felt that way, you know, just sort of a Twittery vibe about the whole thing, blue birdies in the air and so forth.

Social-Media Themed Costume Ideas (SocialTimes)
Nearly 70 percent of typical costume-wearers admit social media platforms like Facebook and Pinterest impact their costume choices, according to a survey done by Savers/Value Village. “Nearly half of them say they get inspiration from looking at their newsfeed, like photos of what others wore,” shares Sara Gaugl, Savers spokesperson. “Nearly 40 percent say they put in more effort to wear something different every year because they know pictures of them will be posted on social media.”

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Kickstarter’s Executive Exodus: One Cofounder Departs, Another Steps Back (VentureBeat)
Cofounder Charles Adler is leaving the New York-based crowdfunding website, Kickstarter CEO Perry Chen revealed in a blog post Wednesday. “Charles has long been itching to move with his family back to Chicago, and now that timing is right,” wrote Chen. “He’ll be sorely missed, but he’ll stay connected as an advisor as he explores new adventures.”

NBC Shows are in the Midst of a ‘Smirk Off’ Competition on Tumblr (LostRemote)
NBC shows are taking a short break from competing against shows on other networks. Instead, they have been competing against each other in a friendly “smirk off” across their Tumblr accounts.

Report: The NSA is Spying on Data from Google and Yahoo, too (BetaBeat)
Cue Silicon Valley brick-shitting: The latest batch of Snowden leaks suggest the NSA is hoovering up massive amounts of Google and Yahoo data, snatching it off the connections between their various worldwide data centers–without their permission. The project is called “MUSCULAR,” in case “PRISM” wasn’t Ludlum-y enough for you.