Facebook reported stronger-than-expected revenue Thursday in the social-media company’s first earnings report since its rocky initial public offering two months ago.
But investors weren’t impressed, and after a brief spike, its stock tumbled nearly 9 percent in after-hours trading.
Facebook Inc. said it booked a net loss of $157 million, or 8 cents per share, in the April-June period, mainly because of stock-compensation expenses after its IPO. That compares with earnings of $240 million, or 11 cents per share, in the second quarter a year ago.
Revenue grew 32 percent to $1.18 billion from $895 million a year ago.
Adjusted earnings of $295 million, or 12 cents per share, matched Wall Street’s expectations.
Analysts on average had expected slightly lower revenue of $1.16 billion, according to FactSet.
The results come two months after Facebook’s stock landed with a thud on its first trading day, May 18. Despite months of hoopla that had investors thinking it would soar, the stock closed 23 cents above its $38 IPO price. It has not reached that level since then.
