TweakTown
Tech content trusted by users in North America and around the world
5,676 Reviews & Articles | 36,072 News Posts
Weekly Giveaway: Fractal Design Arc Cases Contest (Global Entry!)

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 SOURCE
Electronista.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

Latest Downloads

View More Latest Downloads

TweakTown Web Poll

Question: Did EA kill the Battlefield franchise with the terrible BF4 issues?

Yes, Battlefield is doomed

No, Battlefield will live on strong

I'm not sure, but I know EA needs to improve its game

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Get TweakTown updates via Facebook!
Just click the "Like" button below