Facebook shares fall to a new low

shares have fallen to a new low, as concerns about its mobile strategy sparked a sell-off when markets opened on Friday.

Late Thursday, in its first report as a public company, Facebook said it lost $157 million from April to June.

Its shares plunged more than 16% to $22.37 when trading began in New York on Friday, worse than the declines seen in after-hours trade on Thursday.

Facebook shares have fallen to a new low as concerns about its mobile strategy sparked a sell off 350x262 photo

Facebook shares have fallen to a new low, as concerns about its mobile strategy sparked a sell-off

Facebook shares were priced at $38 when it listed on the in May.

Facebook’s results on Thursday showed that revenue in the second quarter of the year had grown 32% to $1.18 billion, just beating forecasts. But analysts at Piper Jaffray said it appeared wanted “more than a slight beat”.

The number of monthly active users (MAUs) rose 29% from the same period last year to 955 million, but some analysts question the reliability of this data given the number of fake profiles on the social network.

The number of people who logged in daily to Facebook’s site from their mobile devices surged 67% year-on-year to 543 million.

But the company has yet to resolve how it generates as users move from the computer desktop version to accessing the site via mobile phone.

“We don’t view these results as dramatically good or bad,” said Citi analyst Mark Mahaney.

“Key questions remain: the future of Facebook mobile and the future of Facebook user engagement.”

 

Facebook shares have fallen below $29 for the first time since their flotation to a new lowFacebook shares go below $29 as they plunge to lowest point yet Swiss bank UBS lost 349 million Swiss francs ($356 million) by investing in Facebook shares, more than halving its profitsUBS lost $356 million by investing in Facebook shares Facebook's stock plunged to an all-time low today as the market braced for the company's insiders to dump their stock after the expiration of a lock-up periodFacebook shares plunge to a new low as lockup expired for initial investors The NASDAQ exchange saw Facebook shares jumping more than 10 percent within minutes of making their stock market debutFacebook shares jump within minutes on stock market debut Facebook shares have fallen in early trading on Wall Street to below the price at which they were floatedFacebook shares have fallen below IPO price in early trading on Wall Street Facebook has been dealt another blow after Zynga announced that it was slashing its outlook for the yearFacebook shares collapse after gaming company Zynga announces a decreased number of paying customers Facebook’s less-than-stellar debut saw its shares end the day on Friday just 23 cents, or 0.6 percent, higher than its initial price, at $38.23, valuing the company at $104.2 billionAnalyst Brian Wieser warns his clients against buying Facebook shares which were implausibly priced Facebook has reported a sharp drop in profits, partly due to increased spending on research and developmentFacebook profits drop sharply
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Posted by on Jul 27 2012. Filed under Business, Finance, Front Page. You can follow any responses to this entry through the RSS 2.0.

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