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Facebook beat the Street's estimates for its second quarter, but investors were apparently looking for more.
In after-hours trading, Facebook's stock dipped below $24, a new low for the stock, which had made its debut in mid-May at a price of $38. Trading in afterhours fell more than 10% after a day in which the stock had already fallen 8.5%.
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The battering comes a day after Zynga's stock fell 40% in afterhours on Wednesday when the company posted a net income loss of $22.8 million.
More to come...
Bonus: Facebook Earnings By the Numbers
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