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Forecast: Twitter ad revenue to double



Published: Thu, March 28, 2013 @ 12:00 a.m.

Forecast: Twitter ad revenue to double

SAN FRANCISCO

Twitter’s ad revenue is believed to be on pace to double this year as the online messaging service delivers more marketing pitches to mobile devices in preparation for a highly anticipated initial public offering of stock.

For now, Twitter remains a privately held company that staunchly refuses to disclose its financial results. That leaves it to research firms tracking Twitter to try to divine how well the 7-year-old company is doing. The estimates are based on a variety of sources, including market trends, ad agencies and other industry data.

Wal-Mart: Loss likely from probe

NEW YORK

Wal-Mart Stores Inc. said it is “probable” that the world’s largest retailer will incur a loss due to ongoing bribery investigations by itself and government agencies, but it says it is too early to speculate on the size of the damage.

The company said it does not expect the loss to be material. The statements came in a filing with the Securities and Exchange Commission filing late Tuesday.

Wal-Mart Stores has been dealing with allegations that surfaced last April that it failed to notify law enforcement that company officials authorized millions of dollars in payments in Mexico to speed up getting building permits and gain other favors.

Zuckerberg said to form political group

NEW YORK

A person familiar with Facebook says CEO Mark Zuckerberg is forming a political group to address issues such as education reform, immigration and scientific research.

The person says the group will launch formally in the coming weeks. The person spoke on condition of anonymity because the information is not public. The San Francisco Chronicle, Politico and others reported on it earlier.

Zuckerberg, 28, already has used his Facebook wealth to address political issues close to him. He donated $100 million of Facebook stock to Newark, N.J., schools. He also has announced plans to donate nearly $500 million in stock to a Silicon Valley charity to fund health and education issues.

In February he hosted a campaign event in his Palo Alto, Calif., home for New Jersey Gov. Chris Christie.

Associated Press


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