Facebook nearly tripled its Q1 earnings, bounding past Wall Street forecasts late Wednesday as mobile users climbed above 1 billion for the first time. The social network earned 34 cents a share excluding items, up 183% vs. a year prior and beating analyst consensus of 24 cents, according to Thomson Reuters. Revenue jumped 72% to $2.5 billion, above estimates for $2.36 billion and marking the fourth straight quarter of
Big money flowed into pharma Tuesday as Novartis, GlaxoSmithKline and Eli Lilly unveiled a giant swap of businesses, while Valeant Pharmaceuticals bid roughly $47 billion for Allergan. Novartis (NVS) agreed to buy Glaxo’s (GSK) oncology business for $14.5 billion, plus up to $1.5 billion in milestone payments depending on how products in the pipeline fare. In turn, Glaxo will pay $7.1 billion for Novartis’ vaccines business. Novartis said it’ll
Streaming video service Netflix garnered positive reviews from investors late Monday for its first- quarter results, which beat earnings and subscriber forecasts, and it announced plans to nudge rates higher for new users. Netflix (NFLX) earned 86 cents a share in the March quarter, up from 5 cents a year earlier and topping Wall Street’s forecast for 83 cents. Sales were $1.27 billion, up 24% and in line with forecasts. The Los