Thursday, July 26, 2012

Facebook Posts £100m Loss After Share Offer

Facebook has announced a net loss of $157m (£100m) in its first earnings report since becoming a public company.

Facebook Inc said the net loss was equivalent to eight cents per share between April and June, mainly due to stock compensation expenses following its initial public offering.

That compares with earnings of $240m (£153m), or 11 cents per share, in the second quarter a year ago.

However, the company's first quarterly results since its rocky debut on the Nasdaq stock exchange two months ago, were not as bad as expected. Read More

Note: Facebook Shares have dropped 8.5% so far today, not as bad as expected