Facebook Inc. is struggling to meet investors' expectations, as the social network's revenue growth shrank for at least the fifth consecutive quarter while costs soared.
Investors sent Facebook's shares down 10% in after-hours trading Thursday to their lowest level ever following the company's first quarterly report since its initial public offering. The retreat pushed the company's market capitalization to about $65 billion, well below the $100 billion valuation that Facebook gave itself in its May IPO.
The company swung to a second-quarter loss largely weighed down by expenses from compensating employees with stock upon its initial public offering in May. ...
Edited By Cen Fox Post Team
