New 52-week low for Facebook
Facebook (FB) is down 10% after-hours and only a few pennies above $24. Come Friday it will be a brand new 52-week low for Facebook shares. Get ready to hear about fb all day and read 10,000 stories about it.
Facebook trading almost 30% down from its $38 price back when the IPO could do no wrong. Bottom line is Facebook's profit wasn't good enough for the Street and the company increased its spending.
Facebook's Q2 revenue did increase and came in at $1.18 billion. That wasn't quite good enough for the Street which was expecting revenue of $1.16 billion. The company reported a net loss of $157 million, or 8 cents per share. The big expense was marketing and sales which hit $392 million.
Expect Facebook shares to open tomorrow in the low to mid $24 range. If the stock keeps dropping its going to attract buying interest.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- CEO Of Asia's Largest Commodity Trader Unexpectedly Resigns | ZeroHedge
- Unintended Consequences: Easy Money = Overcapacity = Trade Wars | ZeroHedge
- China Sends Yellen Another Warning, Fixes Yuan At Lowest In Over Five years | ZeroHedge
- Never Forget | ZeroHedge
- "Bill Clinton Was Here": The Elite One-Percent’s 'Orgy Island' Exposed | ZeroHedge
- Here's Why All Pension Funds Are Doomed, Doomed, Doomed | Financial Sense
- Almost 100 Beheadings So Far In 2016 And Counting... And No, It's Not ISIS | ZeroHedge
The most relevant financial news and articles from the Internets
- Video shows gorilla and 4-year-old boy in enclosure before... | Business Insider
- The best hotels for the ultimate private getaway | Business Insider
- ISIS just suffered another loss in Libya | Business Insider
- This chart shows which professions have the longest commutes | Business Insider
- How I built a 6-figure business while... | Business Insider
- Bill O'Reilly confronts Donald Trump over Bill Clinton attacks: 'I... | Business Insider
- 10 million self-driving cars will be on the road by... | Business Insider