engine - 10:06 pm on Jul 26, 2012 (gmt 0)
Facebook Reports A 2Q Loss of $157 Million [online.wsj.com]
Facebook Inc. met Wall Street's tempered expectations in its first quarterly report as a public company, but its stock fell 10% in after-hours trading as its growth continues to slow down.
The social networking company reported a second-quarter loss of $157 million mainly due to expenses related to compensating employees with stock upon its initial public offering in May.
Excluding those costs, the company's adjusted earnings were $295 million, or 12 cents a share, in line with analysts' estimates.