12 cents per share, excluding a charge for employee option grants. the results were right in line with analyst estimates. revenues were a bit better than expected at $1.18 billion. but disappointed investors dumped the shares in after-hours trading. facebook fell as much as 9% to $24. erika miller reports. mobile is a huge opportunity for facebook. our goal is to connect everyone in the world. and over the next five years, we expect four billion or five billion people to have smart phones. reporter: finally, investors got a chance to hear facebook c.e.o. mark zuckerberg discuss his company s business strategy. he told investors that the social network now has 955 million users, a near-30% increase in just one year. facebook s biggest challenge is figuring out how to adapt to the growing use of mobile technology. nearly all of facebook s revenues come from advertising, and that s more difficult with smaller screens. that s part of the reason facebook shares have gotten cru
revenues were a bit better than expected at $1.18 billion. but disappointed investors dumped the shares in after-hours trading. facebook fell as much as 9% to $24. erika miller reports. mobile is a huge opportunity for facebook. our goal is to connect everyone in the world. and over the next five years, we expect four billion or five billion people to have smart phones. reporter: finally, investors got a chance to hear facebook c.e.o. mark zuckerberg discuss his company s business strategy. he told investors that the social network now has 955 million users, a near-30% increase in just one year. facebook s biggest challenge is figuring out how to adapt to the growing use of mobile technology. nearly all of facebook s revenues come from advertising, and that s more difficult with smaller screens. that s part of the reason facebook shares have gotten crushed they re down nearly 30% from the offering price of $38 in may. but some analysts still think the stock s a buy.
derivatives. mark to market means, if the assets were priced at what they are worth today. the bank said its strategy to hedge its credit portfolio has proven to be riskier, more volatile and less effective as an economic hedge than it believed. $2 billion in losses in the first six weeks of this quarter. about $1 billion of that was made up by selling some positions. the news sent j.p. morgan shares tumbling after the closing bell. the stock closed at $40.74 per share in the regular session. but after the filing, shares fell almost 7%, falling below $38 per share. on a conference call late today, c.e.o. jamie dimon said the situation violated the bank s own standards and principles, and they re disclosing the problem now because it could get worse through the end of the year. reporter: i m erica miller in new york. coming up, i ll tell you about new proposed regulations that could make it easier to compare mortgages. nightly business report is brought to you by: capt
hedge its credit portfolio has proven to be riskier, more volatile and less effective as an economic hedge than it believed. $2 billion in losses in the first six weeks of this quarter. about $1 billion of that was made up by selling some positions. the news sent j.p. morgan shares tumbling after the closing bell. the stock closed at $40.74 per share in the regular session. but after the filing, shares fell almost 7%, falling below $38 per share. on a conference call late today, c.e.o. jamie dimon said the situation violated the bank s own standards and principles, and they re disclosing the problem now because it could get worse through the end of the year. reporter: i m erica miller in new york. coming up, i ll tell you about new proposed regulations that could make it easier to compare mortgages. nightly business report is brought to you by: captioning sponsored by wpbt tom: blue chip stocks closed higher ahead of that j.p. morgan news, thanks to another drop in ne
derivatives. mark to market means, if the assets were priced at what they are worth today. the bank said its strategy to hedge its credit portfolio has proven to be riskier, more volatile and less effective as an economic hedge than it believed. $2 billion in losses in the first six weeks of this quarter. about $1 billion of that was made up by selling some positions. the news sent j.p. morgan shares tumbling after the closing bell. the stock closed at $40.74 per share in the regular session. but after the filing, shares fell almost 7%, falling below $38 per share. on a conference call late today, c.e.o. jamie dimon said the situation violated the bank s own standards and principles, and they re disclosing the problem now because it could get worse through the end of the year. reporter: i m erica miller in new york. coming up, i ll tell you about new proposed regulations that could make it easier to compare mortgages. nightly business report is brought to you by: capt