Facebook shares sank 4% on Thursday morning even after quarterly results that crushed expectations.
After the market close yesterday, the company reported earnings and revenues that topped estimates, although daily active users came in a little lower than forecast.
For the numbers, earnings per share were reported at $US0.50, versus the consensus estimate for $US0.47. Revenues grew 39% year-over-year to $US4.04 billion, also better than expected. Daily active users increased 17% to 968 million, missing analysts’ forecast for 970 million.
And as Business Insider’s Sam Ro highlighted, nearly all the sell-side analysts maintained their bullish outlook on the social network’s stock after these results. Some of them raised their price targets.
Facebook’s stock has performed well this year, up 19%, and it has gained 25% over the past 12 months.
Here’s a look at the stock’s slump today: