Wednesday, October 29, 2014

Wallstreet Disses Facebook, Shares Drop In After Hours Trading.

Facebook shares drop.

Wall Street does not want post selfies but looking for positive numbers, does not matter if you have a user base that is counted in millions.
Facebook grew wide but the vertical growth slowed from 3.125 percent last quarter to 2.27 percent this quarter. Well the big boys did not like it and FB is down 8.26% and earlier in the evening it was down as low as 9.76%. And all these happened in after-hours trading.
Facebook also disclosed financials of its $22 billion WhatsApp acquisition and they were not anything to smile about. Basically they were disappointing. WhatsApp earned $15 million revenue during the first half of 2014. Whatsapp boasts a 600 million user base.
I like to see what will happen in the morning.


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