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Facebook's First Earning Report Is Respectable: $1.18 Billion Quarterly Revenue, 955 Million Total Users
Jul 26th 2012, 21:53

NEW YORK (AP) — 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 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....

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