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Facebook’s shares fell in price

29.07.2021,15:27


July 29, Fineko/abc.az. The shares of Facebook, the owner of the social network of the same name, fell by 3.66% today during the initial trading session on the New York Stock Exchange to $359.6 per share.

ABC.AZ reports that company's securities ended the last trading day with an increase of 1.49% ($373.28 per share).

The fall in shares occurred after the publication of the quarterly report.

Despite the fact that the profit and revenue figures in the 2nd quarter exceeded analysts' forecasts, the company said that it expects revenue growth to weaken from the 2nd half of this year.

For three months Facebook's revenue increased by 56% up to $29.1 bn, which is the highest growth rate since 2016.