Facebook Tanks on Revenue Miss, Though EPS Beats Estimates
Shares of Facebook Inc. (FB) were down 8.5% after-hours Wednesday, July 25, after the social media network reported revenue that missed analyst expectations.
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Facebook earned $1.74 per share in the second quarter on revenue of $13.04 billion. Analysts were expecting Facebook to report earnings of $1.72 per share on revenue of $13.36 billion.
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The company reported that its daily active user base increased 11% to 1.47 billion; its monthly active user base also increased 11% to 2.23 billion.
Mobile advertising revenue accounted for 91% of the company's advertising revenue, up from 87% last year.
However, the company's operating margin fell 3% year over year to 44%.
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