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
- Why Is China So Upset About Trump’s Taiwan Call – And Could It Lead to War? | Financial Sense
- "Then We Will Fight In The Shade" - A Guide To Winning The Media Wars | ZeroHedge
- Giuliani Reportedly Out Of Running For Secretary Of State | ZeroHedge
- Italy: Prime Minister Resigns After Referendum Defeat | Financial Sense
- The Mainstream Media Is Asking For A Government Bailout Via Censorship | ZeroHedge
- Is the US Workforce Nearing Full Recovery? Don't Trust the Unemployment Rate for the Answer! | Financial Sense
- Has The Trumpian Revolution Begun? | ZeroHedge
The most relevant financial news and articles from the Internets
- Here's a super-quick guide to what... | Business Insider
- How to get a shy person to open up to you in 5 minutes or less | Business Insider
- 10 million self-driving cars will be on the road by... | Business Insider
- Russia says Syrian government controls 93% of Aleppo | Business Insider
- These 2 hidden iPhone features will change the way you get your texts | Business Insider
- 10 things you need to know today (SPY... | Business Insider
- All 'Original Seven' American astronauts are now dead | Business Insider