The social networking giant also said it recognized $1.3 billion of share-based compensation and related payroll tax expenses in the second quarter.
Facebook Inc. (NASDAQ: FB, Stock Forum) posted a loss of $157 million or 8 cents a share in the second quarter. This was as a result of stock-based compensation related to the company’s recent initial public share offering. In the equivalent quarter last year, Facebook reported a profit of $240 million or 11 cents.
Revenue in the second quarter was $1.18 billion, a 32% increase from $895 million a year ago, the company said in a press release.
Revenue from advertising was $992 million, or 84% of total revenue.
The company also said it recognized $1.3 billion of share-based compensation and related payroll tax expenses in the second quarter.
Down 9% to $24.50 in after hours trading on Thursday, Facebook has a market cap of $17 billion, based on 635.8 million shares outstanding. Facebook shares were priced at $38-a-share when the company launched its IPO on May 18. The 52-week high is $45.
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