Taxes

Uncle Sam, California Benefit From Facebook Employees’ Stock Windfall

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On Monday, rank-and-file Facebook employees will be able to sell their stock, which officially came to fruition Thursday. Collectively, the roughly 225 million shares are worth about $5.2 billion, based on Wednesday’s closing price of $23.23 apiece. But it’s not just Facebook employees who are excited for a potential sell-off — the federal and California governments stand to profit from this, as well.

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Facebook Posts 3Q Net Loss On Increased Revenues; Totals 1.007 Billion Monthly Active Users, 640M Mobile MAUs

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Facebook posted a net loss of $372 million in the third quarter of 2012 using generally accepted accounting principles, or $59 million following the GAAP income tax provision for the third quarter of $431 million, compared with net income of $227 million in the third quarter of 2011, on revenue of $1.26 billion, which was up 32 percent from $954 million in the year-ago period.

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