We promised we'd track it and so here's the latest on Facebook's inexorable share price slide. Facebook shares are down 11 per cent to a record low of $23.94 after the company announced its first results since its floatation in May. By I.D. Scales.
While revenues of US$1.18bn were up 32 per cent on the same period last year Facebook reported a $157m net income loss because of payments to shareholders, including Mark Zuckerberg.
Although these results were apparently ahead of expectations, they didn't stop a share price drop in after-hours trading because of renewed fears that Facebook hasn't yet cracked the mobile market.
This week we reported that Facebook was placing some R&D outside of North America for the first time with a London investment
- partly no doubt it was supposed to show the world (and the stock-holders) that it has mobile matters in hand. Bbut analysts continue to worry that the social giant hasn't got the mobile sphere cracked yet as far as advertising and monetisation of the mobile Facebooker is concerned.
And the proportion of mobile Facebook users is sky-rocketing. Amongst a welter of numbers - e.g. 552 million active daily users, an increase of 32 per cent year-over-year - a stand-out stat was that mobile users had reached 543 million, a very large increase of 67 per cent.
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