dcsimg

Facebook Delivers an Earnings Letdown

Download the authoritative guide: Cloud Computing 2018: Using the Cloud to Transform Your Business

SHARE
Share it on Twitter  
Share it on Facebook  
Share it on Google+
Share it on Linked in  
Email  

The New York Times: In Friday morning trading, Facebook's stock fell to new lows following its first quarterly earnings report. The company reported revenue of $1.18 billion, up over last year's $895 million. However, it posted a net loss of $157 million, or 8 cents a share. As a result, the stock slipped to $23 a share, a full 40 percent less than the company's opening price of $38.

“Obviously we’re disappointed about how the stock is traded,” said Facebook CFO David Ebersman. “But the important thing for us is to stay focused on the fact that we’re the same company now as we were before.”

Submit a Comment

Loading Comments...

NewsletterDATAMATION DAILY NEWSLETTER

SUBSCRIBE TO OUR IT MANAGEMENT NEWSLETTER