Facebook reports loss due to shareholder payouts

  • Facebook has reported a $157 million loss due to payments to shareholders in its first results since its highly anticipated stock market listing in May.

    Second quarter costs and expenses nearly quadrupled, up 295 percent to $1.93 billion from the same period last year.

    The figures compare with a $240 million profit made last year.

    Excluding staff share schemes, Facebook was expected to have made a profit of $295 million.