Here's Why Facebook Stock Fell Today
Shares of Facebook (NASDAQ: FB) retreated on Thursday after the social media specialist reported second-quarter results and warned of a growth slowdown later this year. As of 3 p.m. EDT, Facebook stock was down more than 4%.
Facebook's revenue surged 56% year over year to $29.1 billion, fueled by strong growth in its digital advertising services. Its net income, in turn, more than doubled to $10.4 billion, or $3.61 per share. That was well ahead of Wall Street's estimates for EPS of $3.04.
Facebook's shares pulled back on Thursday. Image source: Getty Images.
Source Fool.com
