By Robert Broens:
Today was the first time in its corporate history that social networking website Facebook (FB) reported its quarterly results as a public company. Shareholders initially reacted favorably to the report, but in after hours shares trading shares lost up to 12%.
Second Quarter Results
Facebook reported a 32% increase in quarterly revenues to $1.18 billion, coming in slightly ahead of analysts expectations of $1.16 billion. Advertising revenues rose 28% to $992 million, while revenues from payment and other fees rose to $192 million. In comparison, the company generated $1.06 billion in total revenues for the first quarter of 2012.
The company reported an operating GAAP loss of $743 million for the second quarter compared to a $407 million profit in the second quarter last year. Non-GAAP operating profits rose from $477 million to $515 million. On a non-GAAP basis the company net lost $157 million, compared to a net profit
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