Even though Facebook hit its earnings projections right on the nose, after hour trading is not being kind to the company.
Facebook stock dropped to a new low of $25, down almost 6%.
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UPDATE: Currently, the stock sits at $24.43, down 9% in after hours trading.
Here are the details from from its earnings report:
Today Facebook reported its second quarter financial results, including revenues of $1.18 billion, and earnings per share of $0.12. Analysts had expected revenues of $1.15 billion, and non-GAAP earnings per share of $0.12. Ad revenue was expected to be $921 million. For the quarter, the company reported ad revenue of $922 million, beating that expectation by a hair.
Here’s a look at Facebook’s rocky last few days:
The company is closing in on one billion users, which is a milestone that many are waiting for.