Economy - Voice of America: Facebook Earnings Fall Despite Higher Revenue

Economy - Voice of America economy-and-business

Facebook Earnings Fall Despite Higher Revenue Jul 27th 2012, 12:33 Facebook, the world's most popular social network website, says it lost money during the second quarter of the year, despite higher than expected revenue. In its first earnings report since its initial public offering of stock last May, Facebook posted a net loss of $157 million on revenue of $1.18 billion, up more than 30% from the same period one year ago. The company attributes the loss to compensation for investors after computer mishaps and other problems during the IPO. Facebook ... Media files: 6B646E31-B91A-4BE4-80C1-DBD86402DD70_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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