suntimes
BUMP 
Weather Updates

Facebook’s first public quarter solid, but not liked

This June 20 2012 phoshows Facebook logpage computer screen OaklN.J. Facebook is expected report their quarterly financial results after market

This June 20, 2012 photo shows a Facebook login page on a computer screen in Oakland, N.J. Facebook is expected to report their quarterly financial results after the market closes on Thursday, July 26, 2012. (AP Photo/Stace Maude)

storyidforme: 34182004
tmspicid: 12511157
fileheaderid: 5684521

Updated: February 6, 2013 11:42PM



Facebook is reporting stronger-than-expected revenue in the social media company’s first earnings report since its rocky initial public offering two months ago.

But investors weren’t impressed and after a brief spike, its stock tumbled nearly 9 percent in after-hours trading.

Facebook Inc. said Thursday that it booked a net loss of $157 million, or 8 cents per share in the April-June period, mainly because of 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.

AP



© 2014 Sun-Times Media, LLC. All rights reserved. This material may not be copied or distributed without permission. For more information about reprints and permissions, visit www.suntimesreprints.com. To order a reprint of this article, click here.