Facebook suffers $157 million in losses

Facebook's first quarterly report Thursday as a publicly traded company continued the disappointing trend that has gripped the social networking leader since its IPO in May, dpa reported.

The company, which raised 104 billion dollars in the public markets, reported a net loss of 157 million dollars on revenue of 1.18 billion dollars.

Its shares have been in a slump since it went public at 38 dollars a share, and fell further in after-hours trading Thursday to 25.35 dollars.

"Our goal is to help every person stay connected and every product they use be a great social experience," Mark Zuckerberg, Facebook founder and CEO, said in the earnings release.

"That's why we're so focused on investing in our priorities of mobile, platform and social ads to help people have these experiences with their friends.


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