Facebook Q2 Results Top Estimates

(RTTNews) - Social networking giant Facebook, Inc. (FB) reported net income for the second quarter of $333 million or $0.13 per share, compared to a net loss of $157 million or $0.08 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $488 million or $0.19 per share, compared to $295 million or $0.12 per share in the prior year quarter.

Revenue for the second quarter rose 53% to $1.81 billion from $1.18 billion in the same quarter last year.

Revenue from advertising was $1.60 billion, representing 88% of total revenue and a 61% increase from the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.14 per share on revenue of $1.62 billion for the second quarter. Analysts' estimates typically exclude special items.