(Newser)
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Facebook reported its first quarterly earnings since going public today, and though the company lost $157 million, or 8 cents per share, it performed better than analysts were expecting, Bloomberg reports. Facebook's total revenues rose to $1.18 billion on strong advertising sales, meaning that if not for "certain costs" profit would have been 12 cents a share. Analysts had expected about $1.16 billion in revenue.
The response has been mixed so far. Shares initially rose after the report, but then took a downward turn in after-hours trading, the Wall Street Journal reports. Indeed, CNBC tweeted that the stock had hit a new low of $25 per share. Facebook shares have not been a big hit on Wall Street, falling 29% since the company's much-ballyhooed IPO in May.
