Facebook reports loss after shareholder payouts
LONDON. July 27. KAZINFORM Facebook has reported a $157m (£100m) loss on payments to shareholders such as chief executive Mark Zuckerberg in its first results since its eagerly anticipated stock market listing in May.
According to BBC, second quarter costs and expenses nearly quadrupled, up 295% to $1.93bn from the same period last year.
Excluding staff share schemes, Facebook would have made a profit of $295m.
The figures compare with a $240m profit in the same period last year.
In its statement , Facebook said the rise was driven primarily by "share-based compensation expense".
Shares fell 11% in after-hours trade in New York to a record low of $23.94.
In May, investors had queued to snap up Facebook shares for $38 each.
Sales rose 32% to $1.18bn for the three months to the end of June.
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