The mystery is over: We now know whether or not Facebook is actually making money. In its first-ever earnings report released today, the social networking giant reported a net profit of $0.12 earnings per share on quarterly revenues of $1.18 billion. The earnings report matched Wall Street?s expectations of $0.12 earnings per share and revenues of $1.15 billion. Advertising revenue accounted for $992 million of the company?s total revenues. Facebook?s share price dropped by more than 10% in after-hours trading immediately following the news, dipping below $25.
A major reason for the drop was that Facebook only made money on the quarter after excluding negative impact of pre-2011 restricted stock unit compensation. Without that adjustment the company would have posted a net loss of $157 million or $0.08 per share.
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Source: http://news.yahoo.com/facebook-matches-expectations-stock-still-plummets-hours-201006507.html
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