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Tuesday 21, May 2013

 
 
 

 

Facebook stock hits another low after second quarter earnings

By: Sheraz Nasir, Uploaded: 1st August 2012



According to sources, the stock has been falling since Facebook released its quarterly earnings on Thursday for the first time as a public company. Investors were disappointed despite second-quarter results meeting Wall Street expectations, with revenue one-third higher than last year.

The stock lost $1.44, or 6.2 percent, to close Tuesday at $21.71. It is 43 percent below its initial public offering price of $38. Shares briefly hit $21.61 during the day. The previous low was $22.28, on Friday.

Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history. But since then, investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience. Many analysts hold positive long-term views.

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Story first published: 1st August 2012




 
 
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