Facebook admits young teens losing interest in networking site

Washington: Facebook has admitted young teens are losing interest in the site. The social networking site`s shares soared 15 percent on Wednesday on blowout quarterly results, but the stock lost steam after the company During the company`s third-quarter earnings conference call with analysts, Facebook chief financial officer David Ebersman said that they have seen a decrease in teenage daily users during the quarter, especially younger teens. According to CNN, he said Facebook usage among overall U.S. teens was however `stable`. Previously, Facebook had defended itself against multiple recent studies and articles proposing that teens don`t find Facebook cool anymore. Last quarter, CEO Mark Zuckerberg said it `just isn`t true` that the company has a problem with the teen market.