NEW YORK (AP) - Facebook is reporting a loss for its third quarter, delivering only its second earnings report since becoming a publicly-traded company. The results topped Wall Street forecasts.
The world's biggest social media company posted a loss of $59 million, or 2 cents per share, in the July-September period. That's down from earnings of $227 million, or 10 cents per share a year ago, when Facebook was still privately held.
Excluding special items, mainly related stock compensation expenses, Facebook earned $311 million, or 12 cents per share, in the latest quarter, topping forecasts. Revenue rose 32 percent to nearly $1.3 billion.
Analysts had expected a gain of 11 cents a share.
Investors sent the stock up 8 percent in after-hours trading.
First Coast News