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Facebook Inc. met Wall Street's tempered expectations in its first quarterly report as a public company, but its stock fell 10% in after-hours trading as its growth continues to slow down.
The social networking company reported a second-quarter loss of $157 million mainly due to expenses related to compensating employees with stock upon its initial public offering in May.
Excluding those costs, the company's adjusted earnings were $295 million, or 12 cents a share, in line with analysts' estimates.
wow, glad I didn't buy their stock.
I did not either. I think the reason that I did not was I have fasebookanything blocked at fire-wall level. So does the major Biz/Gov Agencies in US.