Despite meeting expectations, Facebook shares slide 11% in after-hours trading
Facebook announced its first earnings results as a publicly traded company today, but despite reporting numbers right in line with analysts’ predictions, shares have fallen by more than 11 percent in after-hours trading to $23.84. Facebook’s shares also took a hit before today’s announcement, dropping 8.5 percent to $26.84 before the markets closed.
Facebook’s Q2 revenues were $1.184 billion. Excluding a $1.3 billion charge in stock-based compensation, Facebook’s non-GAAP income was $515 million, good enough for a net income of $295 million, with earnings per share of $0.12.
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