Facebook Inc (NASDAQ:FB) has been on a hiring spree for editors to work on its secret mobile Newsreader App, according to the report from Re/code. The report suggests that the largest social networking site is trying to come up with a Flipboard-like mobile news aggregator, for which the company is actively seeking editors, who will be responsible for selecting the best stories for a range of segments that will be shown to the readers.
This method will vary from what Facebook adopted earlier by being dependent on algorithms, Re/code reported. Facebook has not commented on the reports yet.
Rivals already using the feature
Any tweaks by Facebook Inc (NASDAQ:FB) to the content selection could complicate the matters for the company as the changes made by Facebook to News Feed affected the businesses, media producers and marketers who depend upon the social network for traffic and exposure. Various sites like Buzzfeed and Mashable have drawn advantage from the change, but other companies have not.
However, the move of bringing newsreader to its mobile platform may prove a right step for Facebook as peers like LinkedIn and Yahoo have already adopted the strategy with Pulse and Yahoo News Digest.
There have been rumors for some time that Facebook Inc (NASDAQ:FB) is in the process of designing a newsreader similar to Flipboard. However, Facebook never confirmed any such rumor. One of the Facebook spokespersons told Mashable, “We do not comment on rumors and speculation.”
Facebook earnings, what to expect
Facebook Inc (NASDAQ:FB) is projected to report earnings after the market close on Wednesday, January 29th, 2014. Analysts surveyed by the Thomson Reuters are expecting earnings per share of $0.27 on $2.32 billion in revenue, for expected year over year growth of 59% and 92% respectively.
In the third quarter of 2013, Facebook surged almost 100%, and has maintained the momentum since then. In the third quarter, revenue moved up as much as 60%, operating income increased 95% and earnings per share surged 108%, year over year.
Two other important factors that are expected to affect the revenue are daily average users (DAUs) and monthly average users (MAUs). Monetization of the user base and ad revenue would increase the stock price. According to the analysts, declining teen users on Facebook Inc (NASDAQ:FB) will not affect the revenue of the company if the ad revenue and online spend keeps growing.