Facebook thoroughly beat expectations on the back of a rise in mobile user numbers as mobile advertising now contributes almost half of ad revenue. But the social network still failed to impress investors when it told them usage was declining among younger teens and warned the switch from adverts on the right rail to the newsfeed would slow in coming months. Facebook reported earnings of $0.25, far exceeding forecasts of around $0.19.
Here is how it happened: from the share price soaring in after hours trading to a new all-time high when traders saw the initial figures, to it falling back down rapidly during the earnings call. Tim Bradshaw and Hannah Kuchler brought you the live reaction and the all details from the call.