Facebook posts first loss

FACEBOOK reported a loss of $US157 million in its first earnings report after its blockbuster public offering, and although the loss was in line with expectations the company's troubled shares sunk to a new low.

The world's biggest social network, which made a market splash in May, said the loss stemmed from accounting rules requiring Facebook to set aside reserves from restricted stock units before 2011, which were disclosed when the company went public.

The results showed growth for Facebook in overall revenue, operating profits and the number of users - which grew to 955 million by the end of the quarter, up from the 901 million users at the end of March. Facebook said daily active users increased 32 per cent to 552 million and mobile active users rose 67 per cent to 543 million.

Investors were not impressed with the result, however, pushing the shares to fresh low of $US23.94 in after-hours trading.

"They beat, but the Street was looking for more and that's why I think shares turned lower after an initial bounce," said Michael Matousek, a senior trader at US Global Investors.

Read more at Brisbanetimes.com.au
 

Topics:  facebook, ipo, shares, stockmarket



Local Real Estate

Featured Real Estate
Best Value Brick Buy in... $275,000
House 4 2 2
A+ for Position... Offers Over...
House 5 1 2
Affordable Level... $155,000
Residential Land 0 0
STEEL FRAME HOMES OWNER... STEEL FRAME HOMES OWNER BUILDERS Great deals to suite each Individual. Quality, ...
Coastal Hinterland 100... Offers Over...
Rural 0 0
Vendor Amends Price ... Offers Over...
House 4 2 2
Job Promotion... Offers Over...
House 4 1 3
Horse Heaven - 5 Minutes... $699,000
Rural 4 2 5
FULLY SELF CONTAINED MOD... FULLY SELF CONTAINED MOD HOMES $14,990K for 6 x 2.4 x 2.5m ...
Incredible Views of the... $340,000
House 4 2 4

Featured Jobs

finda logo

Clarence Valley jobs listed daily

Featured Jobs
STOREPERSON Grafton Full Time
Administrator (Grafton... Grafton Part Time 30 000 - 50 000
Truck Drivers Wanted Grafton Full Time


Local Partners

LATEST DEALS AND OFFERS

Job Listings

Search for your next job now.
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Property Listings

Search for a property online right now.
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

View today's ePaper!

Read the digital edition
Learn More

Horoscopes

Virgo

Your mental energies may be at an all-time high, but your physical levels could be well below par. Don't burn yourself out too soon. You...

read more

Marketplace

Special Offers & Promotions

Compare & Save