However, analysts noted that the revenue growth rate had slowed from prior quarters. Company officials also noted that while the number of mobile Facebook users increased, the company faces challenges in monetizing its user traffic. One big issue is that Facebook must be careful not to crowd mobile screens with too much advertising. The company declined to give guidance on results for future quarters. Company shares dropped by $3.14 to $23.70 Friday, down from the $45 high the company reached on its IPO day in May.

Elsewhere Friday, tech shares did well in what ended up being a strong day on the markets. With the tech-heavy Nasdaq leading the way, all major markets in the U.S. rose on hopes that central bankers in Europe and the U.S. will take further steps to jump-start the economy. On Thursday, for example, European Central Bank chief Mario Draghi was reported saying that he would take any steps necessary to save the euro, which has been pummeled by fears that sovereign debt in Greece and Spain would pull apart the euro zone. Tech stocks on the Nasdaq, not including telecom companies, rose in aggregate by 2.4 percent.