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IPFS News Link • Business/ Commerce

Facebook user numbers and revenue guidance disappoint, stock collapses

• by JP Mangalindan

Management also warned revenue growth rates would decelerate in Q3 and Q4. 

The social network's stock was down as much as 24% in after-hours trading. In early trading on Thursday, the stock was down by 18%.

For the second quarter, the social network reported earnings-per-share of $1.74 on revenues of $13.23 billion, as well as 2.23 billion monthly active users. Analysts were generally expecting earnings-per-share of $1.72 on revenues of $13.3 billion. They were also expecting 2.25 billion monthly active users for the quarter. 

Facebook's monthly active users number was still up 11% year-over-year. Its number of daily active users, 1.47 billion, was also up 11% year-over-year.