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Facebook beats Wall Street estimates, posts $1.2 billion revenue for Q2

Facebook's Q2 was good, the social network posts $1.2 billion profit, beating Wall St estimates

| Business, Financial & Legal News | Posted: Jul 27, 2012 3:31 am

Facebook posted their Q2 finance reports, where the social network saw $1.18 billion in revenue for the company's first disclosures since its IPO went live in May.

 

TweakTown image news/2/5/25033_04_facebook_beats_wall_street_estimates_posts_1_2_billion_revenue_for_q2.jpg

 

Most of the revenue came from advertising, which raked in $992 million, a 28-percent increase over the same quarter last year. Facebook also posted a $743 million loss for the quarter, compared to the $407 million profit from the same quarter in 2011.

 

Facebook was expected to outspend its income for Q2, as $1.3 billion in share-based compensation and payroll tax expenses were finally realized. Facebook CEO and mastermind, Mark Zuckerberg said:

 

Our goal is to help every person stay connected and every product they use be a great social experience. That's why we're so focused on investing in our priorities of mobile, platform and social ads to help people have these experiences with their friends.

NEWS SOURCES:Electronista.com

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