Why Facebook Stock Fell Today
Shares of Facebook (NASDAQ: FB) sank 3.9% on Tuesday, following the release of the social media giant's third-quarter results.
Facebook's revenue jumped 33% year over year to $29 billion, driven by continued growth in its core digital ad business. Those gains, however, fell short of Wall Street's expectations for revenue of nearly $29.6 billion.
Facebook's monthly active users of 2.91 billion and average revenue per user of $10 also fell short of consensus estimates of 2.93 billion and $10.15.
Source Fool.com
