Bad news for Facebook.
The company’s stock lost steam after it admitted young teens are losing interest in the site.
Last quarter, CEO Mark Zuckerberg said it “Just Isn’t True” that the company has a problem with the teen market. However, this quarter they say the company saw a decrease in daily users.
Shares lower in after-hours trading. Facbook shares were up as much as 15 percent on Wednesday, prior to the social networking giant’s admission.