Facebook's first-ever earnings came in on target Thursday, with revenue of $1.18 billion on profit of 12 cents a share.
Facebook posted a second-quarter loss of $157 million, or 8 cents a share. But on an adjusted basis, after accounting for restricted stock awards, the company posted a profit of 12 cents a share that matched Wall Street projections.
Analysts surveyed by
For the three months ended June 30, Facebook saw revenue increase 32% from $895 million in the year-earlier quarter.
Revenue from advertising totaled $992 million, which represented 84% of total revenue and a 28% increase from the same quarter last year.
Monthly active users were 955 million as of June 30, a 29% increase. Daily active users totaled 552 million on average for the month of June, a 32% year-over-year increase. Mobile monthly active users numbered 543 million as of June 30, a 67% increase.
“Our goal is to help every person stay connected and every product they use be a great social experience,” said
Facebook released its earnings after the markets closed. During regular trading, shares ended the day down $2.50, or 8.5%, to $26.84. Shares began to fall in after-hours trading, plunging 9% at 1:27 p.m. PDT.
The Menlo Park, Calif., company will hold a conference call for analysts at 2 p.m. PDT.