Facebook shares drop despite reporting outstanding quarterly results


Facebook (NASDAQ: FB) reported outstanding first quarter financial results, but its shares fell instead of going up during the extended trading hours on Wednesday. The social network giant’s stock declined 2.5% to $148.01 per share—a sign that investors are concerned about the company’s financial performance in the future. During the first three months of the year, Facebook generated earnings of $1.04 per share, up 7% from $0.60 per share in the year-ago quarter. Its revenue rose 49% from $5.38 billion to $8.03 billion. The social network giant exceeded the $0.87…

Read More

Zuckerberg Addresses Racial Insensitivity at Facebook Headquarters

Facebook CEO Mark Zuckerberg

Facebook (NASDAQ:FB) CEO Mark Zuckerberg addressed the racial insensitivity happening at Facebook headquarters in a memo to employees.  He noted that some employees crossed out the “Black Lives Matter” on the company’s walls and wrote “All Lives Matter.” Zuckerberg wrote,” Despite my clear communication at Q&A last week that this was unacceptable, and messages from several other leaders from across the company, this has happened again.” “I was already very disappointed by this disrespectful behavior before, but after my communication I now consider this malicious as well,” he said. Zuckerberg…

Read More

Facebook to Start Testing Internet Drone to Expand Access to Billions of People

Facebook (NASDAQ: FB) will continue its efforts to provide internet access to billions of people that are still unconnected worldwide despite its recent setback in India, according to the company’s CEO Mark Zuckerberg. During the Mobile World Congress in Barcelona on Monday, Zuckerberg said, “Facebook isn’t a company that hits a roadblock and gives up. We take the hits that we get and try to learn from them and just do better.” The Telecom Regulatory Authority of India prohibited the social network giant from offering Free Basics through its partner,…

Read More