Connect with us

Hi, what are you looking for?

Social Media

Facebook lost money this quarter but revenues increased 32%

The social media giant also announced it had 955 million monthly active users as of June 30.

Revenue for the second quarter reached $1.18 billion, an increase of 32 percent compared with $895 million in the second quarter of 2011.

In U.S. and Canada, Facebook makes around $3.20 of average revenue per user, up from $2.90 in the previous quarter.

Facebook faced an operating loss this quarter of $157 million, compared to income (also known as profit) from operations of $407 million for the second quarter of 2011.

Ad revenue was up 28 percent, to $992 million but it “still represents deceleration from Q1′s growth rate, but that number is a bit higher than analysts were expecting,” as AllThingsD writes.

Facebook also revealed more figures on membership: Daily active users were 552 million on average for June 2012, an increase of 32 percent year-over-year.

Mobile monthly users were at 543 million as of June 30, an increase of 67 percent year-over-year.

Facebook raised $16 billion in the May 17 IPO, the largest ever for a technology company, Bloomberg writes. “Yet its debut on the public market was marred by technical glitches, and the stock only managed to close above $38 on the first day of trading.”

As of time of publication, the company’s share value is at $26.85.

Written By

You may also like:

Business

TikTok labeled as "pure fiction" a report that China is exploring a potential sale of the video-sharing site US operations to Elon Musk.

Social Media

A French woman who revealed on TV how she had lost her life savings to scammers posing as Brad Pitt has faced a wave...

Business

Donald Trump will speak online to the annual meeting of the global political and business elite in Davos next week.