Facebook is loosing its grip on the hearts & minds of youngsters. During company’s earnings call Facebook officials admitted that they are losing daily traffic.
“We did see a decrease in daily users, specifically among younger teens,” Facebook CFO David Ebersman said. He added that overall usage by teenagers remained stable in the quarter, although he didn’t specify how Facebook measured that.
Facebook may be feeling the burn of alternative social sites. But there is a hope, Ebersman said:
“We remain close to fully penetrated among teens in the U.S.”
Facebook might be slackening but its Instagram Unit is attracting lots of youngsters. With over 150 Million Monthly active users the Instagram has grown by 50% in past seven months.
Facebook’s stock fell during after-hours trading after news of the teen data broke.