Facebook on Wednesday reported that its quarterly profit surged as its ranks of monthly users closed in on two billion, but warned of rising expenses and slowing revenue growth. The leading social network said it made a profit of $3.06bn on $8.03bn in revenue in the first three months of this year, posting increases of 76% and 49%, respectively, compared to the same period last year. Meanwhile, the number of people using Facebook monthly increased 17% to 1.94 billion, according to the earnings report. "We had a good start to 2017," Facebook co-founder and chief Mark Zuckerberg said in the release. "We're continuing to build tools to support a strong global community." Facebook bested high expectations for revenue but fell short on profit. Shares fell 2.4%to $148.17 in after-market trades that followed the release of the earnings figures. The California-based company's shares had ended the trading day down less than a percent ahead of the earnings release and as it put out word of plans to hire an extra 3 000 staff to remove violent content such as the gruesome killings and suicides broadcast on its video platform. "They are working their butts off to fix it, but it is not an easy problem," Analyst Rob Enderle of Enderle Group said. "They really need to get that artificial intelligence up and running, they couldn't hire enough people to do real-time video review of everything."Facebook's efforts to better filter content come amid growing criticism over the use of the platform for promoting violence and hateful activity. Increased hiring also promises to push up operating costs and eat into profit at the social media giant. Enderle said he believes Facebook was intentionally downplaying expectations to avoid its shares taking big hits due to surprise disappointments later in the year. "It's likely Facebook is being very conservative," he said."They don't want to tank next quarter." Facebook still expects revenue growth to throttle back …
Tourism Grading Council joins forces with HostEX
The Tourism Grading Council of SA (TGCSA) and HostEX are collaborating for the first time. The TGCSA is the only officially recognized quality assurance body for tourism products in SA and HostEX is Pan-Africa’s largest food, drink and hospitality trade show. This partnership will see the two organisations combine their expertise to provide insights and contributions to this year’s edition of the HostEX trade show. “TGCSA has a large database of key players in the hospitality sector, which will translate in HostEX receiving maximum exposure. We will make available key speakers and provide guidance and inputs into relevant topics for the free seminars taking place at the trade show," said Darryl Erasmus, chief quality assurance officer of the TGCSA. "We are very excited about the partnership as it provides us with a great opportunity to yet again, engage our members and the industry at large, on the benefits of quality assurance." Keraysha Pillay of Specialised Exhibitions Montgomery added that the trade show is a platform for the hospitality industry to come together, learn, network and showcase key industry products and services. The trade show has an attendance numbers of about 7 000 visitors and 300 exhibitors, who represent 27 countries globally. "Attendees can look forward to an array of activities that include free seminars, culinary competitions, discounts on flights and many more. The partnership entails regular member communication about food and hospitality,” said Pillay. Food and Hospitality Africa 2017 powered by HostEX will be held at the Gallagher Convention Centre in Midrand from the 7 to 9 May. “TGCSA has a large database of key players in the hospitality sector, which will translate in HostEX receiving maximum exposure. We will make available key speakers and provide guidance and inputs into relevant topics for the free seminars taking place at the trade show," said Darryl Erasmus, chief quality assurance officer of the …
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New smartphone player quietly enters SA with cheap devices
Johannesburg - A new player in the smartphone industry has quietly pushed 360 000 mobile phones into Africa since October, 60% of which into South Africa. Affordable tier three, UK-based brand STK, which since 1993 focused primarily as an official device accessory manufacturer for popular brands such as Motorola and Nokia at the time, has recently ventured into the feature phone and smartphone space. STK has since opened numerous offices around the world, including a manufacturing plant in China, while all designs and marketing for products are still done in the UK. Bryan Mansfield, global mobile head of sales for STK, told Fin24 that the company is looking to become the number-one tier two smartphone brand in South Africa. South African-birthed smartphone producer AG Mobile was recently iquidated. AG Mobile was one of very few South African smartphone brands that managed to enter the market at a low-cost level. Devices were sold through mobile network operators, and the majority through clothing retailer Pep. Since AG Mobile removed itself from the local market, STK has been making strides in the feature phone and entry level smartphone space. Mansfield said the company has three strategic marketing points: its devices are designed in the UK; STK Care offers software unique to the brand; and there is a three-year warranty on all devices. “We offer a three-year warranty because we are confident in our devices and STK Care helps us ensure that devices remain at optimal performance,” Mansfield said. STK Care uses algorithms to detect when phones are experiencing issues, from screen problems and battery faults to software problems. “STK Care allows the company to detect issues on phones so when a customer experiences an issue with their smartphone, we are able to detect what issue the device experiences and check it in to resolve that specific issue,” Mansfield told Fin24. STK mobile phones in South Africa range from around R169 for a …
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Arguments to be heard in DA’s urgent application to compel Zuma for reasons for Cabinet reshuffle
Pretoria-The High Court in Pretoria is on Thursday expected to hear arguments in the Democratic Alliance’s urgent application to compel President Jacob Zuma to supply his record of decision for his Cabinet reshuffle in March. The Democratic Alliance filed an urgent application with the court on April 24, to force President Jacob Zuma to give reasons for reshuffling his Cabinet on March 31. DA chairperson James Selfe said in a statement that the party had asked the court to force Zuma to provide a written record of the decision, and reasons for the reshuffle. The Democratic Alliance filed an urgent application with the court on April 24, to force President Jacob Zuma to give reasons for reshuffling his Cabinet on March 31. DA chairperson James Selfe said in a statement that the party had asked the court to force Zuma to provide a written record of the decision, and reasons for the reshuffle. But State Attorney Isaac Chowe, in a letter responding to the DA, said the president was under no obligation to provide reasons to the DA for the Cabinet reshuffle. Selfe said the law required the president's decisions to be "rational". The president's decision to dismiss or appoint a minister of finance required an additional bar of rationality, Selfe said. The midnight reshuffling saw former finance minister Pravin Gordhan axed. He was replaced by Malusi Gigaba. Selfe said it is well known that the president was trying to get more control over the Treasury for his own gain. But State Attorney Isaac Chowe, in a letter responding to the DA, said the president was under no obligation to provide reasons to the DA for the Cabinet reshuffle. CLICK HERE to submit your press release to MyPR.co.za. …