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The big breakup: The EU after Brexit

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France struggling to recruit prison imams

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Brazil’s contemporary art star Vik Muniz comes to Paris

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FASHION

Men's fashion for summer 2017, part 1

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Music show: Metronomy, Celine Dion, Snoop Dogg and Jazz

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TALKING EUROPE

UK votes to leave the EU: What now? (part 2)

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IN THE PAPERS

'Iceland: How far will they go?'

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IN THE PAPERS

'Hollande and Merkel don't have a real project for Europe'

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BUSINESS DAILY

$3 trillion wiped off global markets since Brexit

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Business

Facebook revenue stronger than expected

Text by News Wires

Latest update : 2012-07-26

Facebook announced stronger than expected results on Friday after a tumultuous first two months as a public company, reassuring concerned investors over the future of the social media giant.

AFP - Facebook is reporting stronger-than-expected revenue in the company’s first earnings report since its rocky initial public offering two months ago, offering some reprieve to worried investors.

Facebook Inc. said Thursday that it booked a net loss of $157 million, or 8 cents per share in the April-June period, mainly due to stock compensation expenses following its IPO. That compares with earnings of $240 million, or 11 cents per share, in the second quarter a year ago.

Revenue grew 32 percent to $1.18 billion from $895 million a year ago.

Adjusted earnings of $295 million, or 12 cents per share, matched Wall Street’s expectations. Analysts, on average had expected slightly lower revenue of $1.16 billion, according to FactSet.

Facebook’s stock fell 5.5 percent to $25.37 in after-hours trading.

Date created : 2012-07-26

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