Facebook shares drop to new low

By +Frank B.
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Grand Master

+Frank B. Subscriber²

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Facebook shares drop to new low

Shares in Facebook have fallen to a new low, as investors react to the social network's first set of results since its flotation.

Late Thursday, in its first report as a public company, Facebook said it lost $157m (?100m) from April to June.

Its shares plunged more than 16% to $22.37 when trading began in New York on Friday, worse than the declines seen in after-hours trade on Thursday.

Facebook shares were priced at $38 when it listed on the Nasdaq in May.

Monetising mobile

Facebook's results on Thursday showed that revenue in the second quarter of the year had grown 32% to $1.18bn, just beating forecasts. But analysts at Piper Jaffray said it appeared investors wanted "more than a slight beat".

The number of monthly active users (MAUs) rose 29% from the same period last year to 955 million, but some analysts question the reliability of this data given the number of fake profiles on the social network.

The number of people who logged in daily to Facebook's site from their mobile devices surged 67% year-on-year to 543 million.

But the company has yet to resolve how it generates profits as users move from the computer desktop version to accessing the site via mobile phone.

"We don't view these results as dramatically good or bad," said Citi analyst Mark Mahaney.

"Key questions remain: the future of Facebook mobile monetisation and the future of Facebook user engagement."

Source: BBC News

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Grand Master

TEX4S

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Posted

LAWL Still haven't sunk as much as Zynga but it's a start.

This makes me really happy.

Why does it make you happy ? Do you not like the site, not like Zuckerberg, or not like the market value of fb ?

Personally, I dont use fb - but I dont think I'd be happy if they went belly up. Now I was happy to hear of Zynga's fall because I thought the IPO was ridiculous.

Grand Master

+Warwagon MVC

Posted
  • MVC
Posted

I dont have a problem with the company, it's the people that made me stay off of it.

Today sucks LOL - 8 likes

I'm drunk, wheaz my keys to me car - 20 likes

about to have sex with a virgin, dont need a condom LOL! - 30 likes

I just found out my best friend only has 6 months to live - 35 LIkes.

Mentor

Skin

Posted
Posted

Why does it make you happy ? Do you not like the site, not like Zuckerberg, or not like the market value of fb ?

Personally, I dont use fb - but I dont think I'd be happy if they went belly up. Now I was happy to hear of Zynga's fall because I thought the IPO was ridiculous.

You question a person enjoying it failing, say you wouldn't be happy about it failing, then say you were about another one failing.. :|

anyhoo, this crap was overpriced by about 34 some dollars. Very overpriced. Of course the 'owners' got while the getting was good, so they could pump up some interest and make money before the fad dies out. This will go the way of VHS, Deloreans, dinosaurs and the middle class - and somtthing else will spring up to take over the minds of the poor masses.

Grand Master

dead.cell

Posted
Posted

I dont have a problem with the company, it's the people that made me stay off of it.

Today sucks LOL - 8 likes

I'm drunk, wheaz my keys to me car - 20 likes

about to have sex with a virgin, dont need a condom LOL! - 30 likes

Hate when I read posts like this. You can A) unsubscribe from their posts, B) remove them from your list of friends, or C) get some better friends... Blame a website because you have a poor group of friends, 'the hell man...

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