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Facebook Loses Gains as Teens Flee

Comments on teen usage of Facebook have been added to this story, along with the company's updated share price.

NEW YORK ( TheStreet) -- Despite the impressive earnings beat, Facebook (FB - Get Report) shares were only up 0.33% to $49.17 after the company noted teens are using the service less.

CFO David Ebersman said that teens are using the service the same, but daily users in the teen demographic slid from the second to the third quarter. Ebermsan noted there isn't an entirely accurate way to measure this, but the company is working on internal metrics to ascertain what is going on.

These comments helped fuel a sell-off in the stock, which was up as much as 13% in after-hours trading, nearly giving up all of its gains following the earnings results.

Facebook reported earnings of 25 cents a share on $2.02 billion in revenue, as mobile revenue surged to 49% of total advertising revenue, approximately $881 million. Analysts surveyed by Thomson Reuters were looking for earnings of 19 cents per share on $1.91 billion in revenue.

The company noted it generated $1.8 billion in advertising revenue, up 66% year over year. Payments and other fees revenue came in at $218 million.

The company ended the quarter with 1.19 billion monthly active users (MAUs), up 18% year-over-year, with daily active users (DAUs) up 25% during the same time frame to 728 million users.

Mobile MAUs grew 45% year-over-year to 874 million, with 507 million of them using the service daily at the end of the quarter.

Shares of Facebook fell during the regular session, losing 0.76% to close at $49.02.

-- Written by Chris Ciaccia in New York

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