Updated from 4:54 p.m. EST to provide executive comments from the conference call in the third and fifth paragraphs.
NEW YORK ( TheStreet) -- Facebook (FB) tried to "friend" Wall Street as the company reported in-line earnings in its first quarterly report as a public company Thursday but the performance wasn't enough to stop shares from sinking in after-hours action.
The social networking giant reported non-GAAP earnings of $295 million, or 12 cents per share, on revenue of $1.18 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of 12 cents a share in the June-ended period on revenue of $1.15 billion.
The non-GAAP profit excludes share-based compensation and related payroll expenses, Facebook said. GAAP expenses for the quarter were $1.93 billion, including stock based compensation, which totaled $1.3 billion. The headcount at end of quarter, was just over 4,000, CFO David Ebersman said on the conference call.On a GAAP
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