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Thu. 11:08am: Facebook tops 1 billion users

October 4, 2012
Tribune Chronicle | TribToday.com

NEW YORK (AP) - Facebook has topped 1 billion users, but the past few months have not been easy.

CEO Mark Zuckerberg says that the company is going through a bit of a rough patch following its rocky initial public offering.

Zuckerberg updated his Facebook status today to announce that the social networking site has more than 1 billion active users each month. He thanked users and said that he is committed to making Facebook better.

The Menlo Park, Calif.-based company has had a difficult time of late. There were trading glitches the day it went public in May and concerns since then about its revenue potential. It's also facing lawsuits from disgruntled shareholders.

Zuckerberg said in a "Today" show interview today that "we're in a tough cycle now and that doesn't help morale, but people are focused on what they're building."

Facebook Inc.'s stock gained 45 cents, or 2.1 percent, to $22.28 in premarket trading. The shares closed at $21.83 on Wednesday, off 43 percent from its $38 IPO price.

 
 

 

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