This afternoon i get to watch Sky News ,i love the Olympic reports and the opening,lets leave that since its not the essence of this article.Facebook..I have your
attention now, don’t I? Could you BE any
more of a pervert?I have a habit of turning on the television and then doing
something else.Sky's technology correspondent Katie Stallard caught my attention ."Facebook has announced a net loss of $157m (£100m) in its first earnings report since becoming a public company." What? OK..shocking anyway i had to listen to understand hoping the handsome nerd Mark Zuckerberg isn't really getting a loss?lets hope this is the end of Facebook,then perhaps my staff will do some WORK for a change and stop staring at the computer as if they are working hard on something or writing a report.
Facebook shares were down nearly 10% at one point in after-hours trading on the Nasdaq - hitting a record low of just $24 (£15).
That is a far cry from the initial public offering (IPO) of $38 (£24).
The company said the net loss was equivalent to eight cents per share between April and June, mainly due to stock compensation expenses following its initial public offering.
That compares with earnings of $240m (£153m), or 11c per share, in the second quarter a year ago.
Sky's technology correspondent Katie Stallard said: "This quarter they have had to pay off all of the early investors, so they were actually expecting a possibly more than $600m (£382m) loss. So, although it's a loss, it's quite substantially better than they were expecting."
Although Facebook made a loss, the company's reported revenue has grown 32% to $1.18bn (£750m), up from $895m (£570m) a year ago.
In a statement after the loss was announced, Facebook founder and chief executive 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."
The results come two months after Facebook shares stiffed on their first day of trading, ending flat.
The much-hyped stock market flotation of the world's biggest social network ended with the stock closing with a fractional gain of just 0.97% at $38.37 (£24.19).
It has not reached that level since then.