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Facebook posts $59 million Q3 loss

  • Facebook announced on Tuesday a loss of $59 million despite a 32 percent rise in revenues during the third quarter.

    Facebook said its income rose to $1.26bn, between July and September.

    The revenues surpassed expectations but the social network’s performance remains in the red on the back of a loss of $157 million in the previous quarter.

    Facebook's shares have lost about half their value since its stock market listing in May.

    Facebook did not provide estimates for the current quarter or beyond, a practice it has maintained since its first earnings report as a public company in July.