Facebook has its first loss after going public
Facebook released its first earnings report after the stock market opened in May, revealing losses of USD $157 million in the second quarter, and revenues from USD $1,180 million.
Although these losses are explained by some one-time charges related to entry into the bag. Excluding these expenses, the company earned $295 million. Still, the stock fell anyway around 8% after the Results in transactions after closing.
The company said that advertising revenue rose 28% to $992 million, its users increased 29% over last year and now total 955 million, the daily active users reached 552 million on average in June (32% more than last year) and that users who connect through mobile reach 543 million (67% more than last year).
Mark Zuckerberg said the mobile area is a “great opportunity” for Facebook, indicating that steady improvements are expected to release for “mobile experiences.” Zuckerberg said people who use mobile are more active on Facebook, and there is a 20% chance of entering the service to PC users.
“Creating great services for these devices is essential,” said the founder of the social network.
They also stressed the “sponsored stories”, a form of advertising that appears in the news feed, which was launched last year. We have preliminary results are encouraging, “said chief operating officer of Facebook, Sheryl Sandberg.
The product generates about $1 million a day, they said, and half of the ads are displayed on mobile devices.
Link: Facebook Reports Second Quarter 2012 Results (Facebook)Tags: earnings, Facebook, Income, money, Results