Facebook Falls After Missing Q2 Sales Estimates

Facebook, Inc. FB shares plummeted following the release of the company’s second-quarter earnings.

The world’s biggest social media company reported earnings of $1.74 per share, beating estimates by 2 cents. Revenues fell short of estimates, however, coming in at $13.03 billion, missing by $322 million.

"Our community and business continue to grow quickly," said CEO and Founder Mark Zuckerberg. "We are committed to investing to keep people safe and secure, and to keep building meaningful new ways to help people connect."

Click here to see the full results.

Q2 Highlights

• Daily Active Users were 1.47 billion, up 11 percent year-over-year;
• Monthly Active Users were 2.23 billion, up 11 percent year-over-year;
• Mobile advertising represented 91 percent of total advertising revenue, up from 87 percent in the same quarter of last year; and
• The company had $42.31 billion in cash and cash equivalents at the end of Q2.

At time of publication, Facebook's stock traded around $200.69, down 7.6 percent in the after-hours session. Twitter Inc TWTR was also moving lower.

During the company's conference call, Facebook's sell-off accelerated. The stock was down more than 23 percent as of 5:50 pm. ET, after the company warned it sees QoQ high-single digit sales growth decelerating in the second half of the year.

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