screen-shot-2014-06-19-at-9-12-38-amAfter experiencing an outage yesterday, Facebook Inc reportedly incurred $500,000 in looses when it went down for about half an hour.

Reports said the lost was based on the first-quarter revenues of $2.5 billion of Facebook work out to around $1.16 million an hour. Hence, the social media site may have lost around half a million dollars in ad revenue for the recent outage.

Millions of Facebook users around the world found the social network site down and greeted by a message that said “Sorry, something went wrong. We’re working on getting this fixed as soon as we can” when they tried to access their accounts.

Facebook spokesman Jay Nancarrow said the site ran into an issue while updating the configuration of one of their software systems. After changes had been made, Facebook users started to have trouble accessing their accounts. He said Facebook quickly spotted and fixed the problem.

It was the longest outage the company experienced in the past four years. In 2010, Facebook experienced more than two hours outage which, according to Facebook, was due to “an unfortunate handling of an error condition.”