NEW YORK, July 27. /Basereporter.com/. The company’s shares Facebook immediately after the opening of the new York stock exchange on Friday showed an increase of 1.02%: they increased by $1.75 per share, to $178,04, it follows from these trades.
On the eve of the closing of the session the stock fell just by 18.96%, to $176,26. As a result, as noted by CNN, the company’s market capitalization fell by $120 billion, became one of the largest cuts in history for the joint-stock company. Previously, the largest decrease was recorded July 27, 2012, when they fell by 11.7%.
The depreciation of the stock of the company is due to report Facebook about the results of the second quarter, which was worse than expected. In particular, revenue in the second quarter (ended June 30) increased by almost 42% compared to last year and reached $of 13.23 billion, but these results did not meet analysts ‘ expectations, forecast revenue in the amount of $13,36 billion.