Facebook is reporting stronger-than-expected revenue in the company's first earnings report since its rocky initial public offering two months ago.
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.
First public quarter proves solid
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.
Published Date: Jul 27, 2012 02:15 pm | Updated Date: Jul 27, 2012 02:15 pm