Facebook Posts $157 Million Loss26 Jul, 2012 By: Erik Gruenwedel
Facebook in its first fiscal result as a public company reported a second-quarter (ended June 30) loss of $157 million, compared with net income of $240 million during the prior-year period.
It should be noted that Menlo Park, Calif.-based social media darling was not a publicly traded company last year.
Facebook reported revenue of almost $1.2 billion, which was up nearly 32% from revenue of $895 million last year.
Revenue from advertising was $992 million, representing 84% of total revenue and a 28% increase from the same quarter last year. Payments and other fees revenue — which includes transactional video-on-demand movies — for the quarter was $192 million.
Facebook shares dropped almost 9% in after-hours trading.