Facebook’s first earnings report as a public company had solid numbers, but in the end it landed with a thud — much like its rocky initial public offering two months ago.
Facebook reported stronger-than-expected revenue and a gain in users Thursday. But investors weren’t impressed and after a brief spike, its stock fell more than 11%, or $2.965, to $23.88 in after-hours trading. The decline means Facebook stock (FB) will most likely open at its lowest level since going public.
Source: USA Today