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