Facebook down after modest results

Press Association
Facebook on the market
Facebook on the market

Dennis Van Tine/ABACA USA/Empics Entertainment

Facebook's first earnings report as a public company had solid numbers, but in the end it landed with a thud - much like its rocky initial public offering two months ago.

Facebook reported stronger-than-expected revenue and a gain in user numbers but investors were not impressed and after a brief spike, its stock tumbled nearly 9%, or 2.38 US dollars, to 24.47 dollars in after-hours trading. It had closed down 8.5%, or 2.50 dollars, at 26.84 dollars.