Facebook's First Quarterly Report Meets Street's Expectations

Facebook Inc (NYSE: FB), the world's largest social networking platform, on Thursday issued its first quarterly report, disclosing results that slightly beat analyst expectations.

The Menlo Park, Calif.-based company posted a second-quarter loss of $157 million, or 8 cents a share, but excluding one-time items, the company earned 12 cents per share. Revenue was $1.18 billion. Analysts polled by Thomson Reuters predicted earnings of 12 cents a share on revenue of $1.1 billion.

Monthly active users were 955 million as of June 30, 2012, an increase of 29 percent year-over-year. Cash and marketable securities grew to $10.2 billion, which includes $6.8 billion in net proceeds from our initial public offering.