Facebook shares soared 15% Wednesday on blowout quarterly results — but the stock lost steam after the company admitted young teens are losing interest in the site.
“We did see a decrease in [teenage] daily users [during the quarter], especially younger teens,” Facebook chief financial officer David Ebersman said Wednesday, during the company’s third-quarter earnings conference call with analysts. He said Facebook usage among overall U.S. teens was “stable,” however.
Instagram have become the new IT thing for teens.