Facebook posts $59 million net loss in fiscal Q3, touts 1.01 billion active users

By Jon Fingas posted Oct 23rd 2012 4:32PM

The bloom is slightly off the rose for Facebook. After a banner first post-IPO quarter, it's recording a net loss in its fiscal third quarter of $59 million despite its revenue climbing to $1.26 billion -- a big swing that the company is blaming on payroll tax tweaks and income taxes, which becomes clearer when you learn that the company posted a $311 million profit before factoring in standard accounting practices. Facebook hasn't said exactly what had the biggest impact, although its closing the Instagram deal wouldn't have helped matters. Still, the company isn't glum about its prospects: following an earlier mention of the milestone by founder Mark Zuckerberg, the earnings report touts that there are over 1.01 billion active Facebook users who check in at least once a month, over 604 million of which were mobile. Between a reworked iOS app, a freshened Facebook Messenger and new ad-friendly SDKs, the social network is bracing for a potential bonanza ahead.

never should have gone public?

Read this as "broke even". $59m is nothing. Stocks went up on this news.

lol guys the stock is up 13% in the aftermarket due to the Q3 results, don't make it sound like it's doom and gloom.

What kind of expenses would Facebook have to pay? 1.2 billion revenue and still a loss? Payroll? I doubt Facebook even has that many employees. Seriously. Im just curios. How is this possible?

I actually never followed FB financials and this was shocking to me!

Maybe the guy who made Napster is taking 1.1 Billion.