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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

Anthony Garreffa | Jul 26, 2012 at 10:31 pm CDT (0 mins, 42 secs time to read)

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.

Facebook beats Wall Street estimates, posts $1.2 billion revenue for Q2 | TweakTown.com

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.

Last updated: Apr 7, 2020 at 11:28 am CDT

NEWS SOURCE:electronista.com
Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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