Facebook’s Earnings Surpass Expectations

    FILE - In this May 18, 2012 file photo provided by Facebook, Facebook founder, Chairman and CEO Mark Zuckerberg, center, rings the Nasdaq opening bell from Facebook headquarters in Menlo Park, Calif. Robert Greifeld, second from right, CEO of the Nasdaq-OMX Stock Market, Inc., said Sunday, May 20, the stock exchange is "humbly embarrassed" by its bungling of Facebook's debut. Facebook's stock was expected to start trading at 11 a.m. Friday, but didn't open until 11:32 a.m., and some investors didn't learn for hours whether their orders went through. (AP Photo/Nasdaq via Facebook, Zef Nikolla, File)

    Zef Nikolla, Nasdaq / AP Photo

    After its disastrous initial public offering two months ago, Facebook finished its first quarter on relatively solid ground, reporting earnings that surpassed analysts' expectations. The social media company booked a net loss of $157 million, or 8 cents per share from April-June, with most of the losses paid out in stock compensation following the IPO. Its total first-quarter earnings of $295 million, or 12 cents per share, matched Wall Street’s initial expectations, though the company’s stock still fell 9 percent in after-hours trading. Facebook Inc.’s revenue grew 32 percent over the past year, from $895 million to $1.18 billion.

    Read it at The Associated Press