Facebook just made the wrong type of history.

The Mark Zuckerberg-led social-media titan saw shares drop 19 percent on Thursday following a disastrous second-quarter earnings report. The damage was swift and unforgiving in after-market trading on Wednesday as Facebook plummeted as much as 24% within an hour. The selling then spilled over into regular trading.

Investors took issue with sales and subscriber numbers that fell short of expectations. But perhaps most damaging of all, the company warned of a growth slowdown. Facebook’s loss was the biggest single-day drop since it started trading publicly in May 2012.

via Facebook’s earnings disaster erased $120 billion in market value — the biggest wipeout in US stock-market history – AOL Finance

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Facebook’s earnings disaster erased $120 billion in market value — the biggest wipeout in US stock-market history – AOL Finance

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