Facebook stock hits a new low of $24July 27th, 2012 - 6:51 pm ICT by Aishwarya Bhatt
New York, July 27 (THAINDIAN NEWS) Facebook has recently reported that it is experiencing slow revenue growth and they have not forecasted thier financial growth yet.
Facebook had reported a revenue increase of 32 percent in the second quarter which is above the forecast that was given by analysts. Officials from Facebook said that the new success that they experienced was due to the advertising that they did.
It is said that Facebook shares have decreased by shedding their value by a third of the previous value amount. The company’s shares hit a new low of $24.
Facebook was the first American company to get in to the market with a value of more than 100 million dollars. Mark Zuckerberg, the CEO of Facebook said that the advertising is going well and that it is expected to boost Facebook.
He said that they were going to work hard to improve mobile apps for Facebook as this will push Facebook towards growth. Facebook uses a lot of money on operating and its financial chief says that the amount will go up in the second part of the year. T
he financial chief went further to add that investments are the top priority for Facebook right now.
Facebook recently faced compensation charges where it incurred a loss of 157 million dollars. It is looking to rise up from this loss.
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