Facebook 2013 Annual Report Download - page 30

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Please find page 30 of the 2013 Facebook annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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28
projections;
• actions of securities analysts who initiate or maintain coverage of us, changes in financial estimates by any securities
analysts who follow our company, or our failure to meet these estimates or the expectations of investors;
• additional shares of our Class A common stock being sold into the market by us or our existing stockholders, including
shares sold by our employees to cover tax liabilities in connection with RSU vesting events, or the anticipation of such
sales;
• investor sentiment with respect to our competitors, our business partners, and our industry in general;
• announcements by us or our competitors of significant products or features, technical innovations, acquisitions, strategic
partnerships, joint ventures, or capital commitments;
• announcements by us or estimates by third parties of actual or anticipated changes in the size of our user base, the level
of user engagement, or the effectiveness of our ad products;
• changes in operating performance and stock market valuations of technology companies in our industry, including our
developers and competitors;
• price and volume fluctuations in the overall stock market, including as a result of trends in the economy as a whole;
• the inclusion or deletion of our Class A common stock from any trading indices, such as the S&P 500 Index;
• media coverage of our business and financial performance;
• lawsuits threatened or filed against us;
• developments in new legislation and pending lawsuits or regulatory actions, including interim or final rulings by judicial
or regulatory bodies; and
• other events or factors, including those resulting from war or incidents of terrorism, or responses to these events.
In addition, the stock markets have experienced extreme price and volume fluctuations that have affected and continue to affect
the market prices of equity securities of many technology companies. Stock prices of many technology companies have fluctuated in
a manner unrelated or disproportionate to the operating performance of those companies. We are currently subject to securities litigation
in connection with our IPO. We may experience more such litigation following future periods of volatility. Any securities litigation
could subject us to substantial costs, divert resources and the attention of management from our business, and adversely affect our
business.
If securities or industry analysts publish inaccurate or unfavorable research about our business, our stock price could decline.
The trading market for our Class A common stock depends in part on the research and reports that securities or industry analysts
publish about us or our business. If one or more of the analysts who cover us downgrade the rating of our Class A common stock or
publish inaccurate or unfavorable research about our business, our Class A common stock price could decline.
We do not intend to pay dividends for the foreseeable future.
We have never declared or paid cash dividends on our capital stock. We currently intend to retain any future earnings to finance
the operation and expansion of our business, and we do not expect to declare or pay any dividends in the foreseeable future. As a
result, you may only receive a return on your investment in our Class A common stock if the trading price of our Class A common
stock increases. In addition, our credit facility contains restrictions on our ability to pay dividends.