Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Posters & Political Spin

Read more

THE CAMPAIGN BEAT

Macron and Le Pen battle it out to woo blue-collar workers

Read more

THE DEBATE

France's Undecided: Anti-Le Pen vote no longer a given (part 1)

Read more

THE DEBATE

France's Undecided: Anti-Le Pen vote no longer a given (part 2)

Read more

FOCUS

LGBT survivors of torture in Chechnya speak out

Read more

MIDDLE EAST MATTERS

Lebanon: Activists ramp up pressure over rape law

Read more

ENCORE!

Film show: 'Django', 'The Paris Opera' and 'Manhattan'

Read more

THE CAMPAIGN BEAT

Is Emmanuel Macron acting overly confident?

Read more

BUSINESS DAILY

Trump vs Trudeau: Rising trade tensions between US and Canada

Read more

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

  • MARKETS

    Nasdaq sets aside $40 million for Facebook IPO losses

    Read more

  • BUSINESS

    Facebook IPO subject of mounting investigations, lawsuits

    Read more

  • USA

    Facebook shares drop below IPO rate in early trading

    Read more

COMMENT(S)