Facebook on Thursday released its first quarterly earnings report since its monster IPO in May. During the period, Facebook reported revenues of $1.18 billion but couldn’t turn a profit, losing $157 million, or eight cents a share. Investors weren’t happy with what they saw. The company’s stock price dove to $23.38 in after-market trading and slipped to a new 52-week low of $22.28 Friday morning. Despite investors’ negative reaction, financial analysts’ reviews of the social network’s first quarter as a public company have been mixed.
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Facebook's Gloomy Quarter Blamed on Big Fat Mobile Problem
Posted by: John P. Mello Jr. July 27, 2012 09:13 AMFacebook on Thursday released its first quarterly earnings report since its monster IPO in May. During the period, Facebook reported revenues of $1.18 billion but couldn’t turn a profit, losing $157 million, or eight cents a share. Investors weren’t happy with what they saw. The company’s stock price dove to $23.38 in after-market trading and slipped to a new 52-week low of $22.28 Friday morning. Despite investors’ negative reaction, financial analysts’ reviews of the social network’s first quarter as a public company have been mixed.