Facebook swung to a loss in the second quarter, as sales and users climbed.
The social-networking company posted a $157 million, 8 cents a shares, loss in the quarter, down from a $240 million profit.
Excluding one-time items, Facebook earned $295 million, 12 cents a share. That meets the Wall Street forecast.
Still, Facebook’s revenue rose more than expected, to $1.2 billion from $895 million. Analysts saw total sales of $1.1 billion.
Shares of Facebook dropped to their lowest point since the company went public in May. The stock was off nearly 10% at $24.30 in after-hours trading.
Facebook reported more users in the latest quarter. The site saw a 29% rise in monthly active users to 955 million, and a 32% gain in daily active users to 552 million.
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