YOUR FRIENDS' ACTIVITY

    Facebook plunges to quarterly loss of $350.6 m: Report

    By ANI | ANI – Sun, Jul 15, 2012

    London, July 15 (ANI): Social network site Facebook has reportedly plunged to a quarterly loss of 350.6 million dollars due to payouts associated with its much-hyped stock market flotation in May, figures have revealed.

    According to Wall Street analysts, Facebook will post a net loss for the second quarter, compared with the 137 million dollar profit it made in the first three months of the year and will present its debut set of results as a listed company a week on Thursday.

    In the prospectus to its Nasdaq initial public offering, which was hit by technical glitches, Facebook stated that it expects to record a second-quarter loss due to payouts it had to make to its early investors, staff and key stakeholders, including founder Mark Zuckerberg, as part of its flotation, the Daily Express reports.

    Analysts claim that Facebook will post a net loss for the second quarter, compared with the 137 million dollars profit it made in the first three months of the year and expect the firm to post second-quarter revenues of 1.15 billion dollars, compared with the 1.06 billion dollars, it registered for the preceding quarter. (ANI)

    Loading...

    More Business News

     

    News for You »

    • The President's Umbrella Scandal Folded Before It Could Take Off

      There was a brief moment where some conservative were trying to make a scandal out of the President's moment in the rain on Thursday. But unfortunately that scandal died before it could really take off. During his Thursday press conference with Turkish Prime Minister Recep Erdogan, a Marine officer held an umbrella over the President's head to protect him from the rain. There were many problems with this, according to a select group of people. 

    • NYers furious over photos taken through windows

      In one photo, a woman is on all fours, presumably picking something up, her posterior pressed against a glass window. Another photo shows a couple in bathrobes, their feet touching beneath a table. And ...

    • Inside Bravo's 'Real Housewives of New York' standoff: What went wrong? What went right?

      By Jethro Nededog LOS ANGELES (TheWrap.com) - Bravo's "The Real Housewives of New York" resumed shooting Season 6 on Wednesday - a week late - with just four of the women returning to their jobs after a failed attempt to band together for bigger paychecks. The road to that point was filled with lessons for the network and the housewives. Bravo would ultimately crush the women's "Friends-style" negotiation tactics - something it had actually set out to avoid in the first place. ...

    • Mystery of Moon's Magnetic Field Deepens

      The moon generated a surprisingly intense magnetic field until at least 3.56 billion years ago, 160 million years longer than previously thought, a new study reports.

    • A record Powerball jackpot isn't a record to celebrate

      When the 43-state Powerball lottery jackpot hit a record at $600 million Friday, many Americans who would otherwise not gamble rushed out to buy the $2 tickets. “Just on the off-chance,” many probably said.

    • After nearly 30 years, Camp Lejeune coming clean

      CAMP LEJEUNE, N.C. (AP) — Purple wildflowers sprout in abundance around the bright-yellow pipe, one of several jutting from the sandy soil in this unassuming patch of grass and mud. A dirty hose runs from the pipe to an idling truck and into a large tank labeled, "NON-POTABLE WATER."

    • Bea Arthur topless painting fetches $1.9M in NYC

      A painting of actress Bea Arthur topless has sold for $1.9 million at a New York City auction. The painting is by artist John Currin and is titled "Bea Arthur Naked." It sold at Christie's auction ...

    • Cheap, Sustainable, Delicious: Ramp Mac ’N’ Cheese

      When I was a kid, we ate plenty of veggies. My family usually grew a garden in the summer, and my grandfather, an erstwhile farmer, kept us in great supply of an endless variety of produce. But, it wasn’t until I moved to New York City that I tasted a ramp. In those days, you could only get them from one guy, a farmer named Rick Bishop, who seemed to have a corner on the season’s wild allium market.

    Show More
    Loading...

    Follow Yahoo! News

    Brought to you byYahoo! Finance