Facebook’s Loss $ 5.9 Million in the Third Quarter

Social networking site Facebook has lost $ 5.9 million in the third quarter of the current year. This is the second consecutive quarter, when the company has a deficit.

The reason for the deficit is the change in book-account rules, under which the company has to keep aside a certain amount for the share compensation. If this cost is separated, then the company would have a net profit of $ 31.1 million.

In the quarter, Facebook’s earnings rose by 32 percent to $ 1.26 billion compared to the same quarter last year. This is 6.7 percent higher than the second quarter of this year.

There has been a significant increase in income from advertising to the company. In the third quarter, the company generated $ 1.1 billion, which is 36 percent higher than the same quarter last year. In advertising, 14 percent of the revenue is from the mobile area.

Facebook’s share of this announcement rose 8 percent to $ 21.14 from Facebook’s announcement.

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Brian Lynn

About the Author: Brian Lynn

Brian Lynn is the lead editor with 15 years of experience in the field of journalism, He is Ph.D. Holder in the field of Arts.

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