September 26, 2018

Facebook shares drop again

According to the BBC, shares in Facebook have fallen to a new low, as investors react to the social network’s first set of results since its flotation. Late Thursday, in its first report as a public company, Facebook said it lost $157m (£100m) from April to June. Its shares plunged more than 16% in early trading before recovering slightly to end the day down almost 12% at $23.71. Facebook shares were priced at $38 when it listed on the Nasdaq in May. Facebook’s results on Thursday showed that revenue in the second quarter of the year had grown 32% to $1.18bn, just beating forecasts. But analysts at Piper Jaffray said it appeared investors wanted “more than a slight beat”.

Source: Bucharest Herald () cheap custom writing service

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