Tough week for social media stocks as even high-flying Facebook, LinkedIn dip

NEW YORK – It hasn’t been an easy week in social media, despite double-digit revenue growth from Twitter, LinkedIn and Facebook. Investors are looking beyond headline numbers and finding reasons to sell.

Not even Facebook, with stronger-than-expected profit and revenue numbers and bulletproof mobile advertising strategy, was spared. Its stock is down 2.6 per cent for the week, compared with a roughly 1 per cent increase for the Standard & Poor’s 500 index.

On Tuesday, Twitter disappointed investors with a report of stalling user growth that executives acknowledged isn’t likely to change any time soon. Its stock hit its lowest level in two years and is down 12 per cent for the week.

LinkedIn delivered solid results, but said one of its business segments, display advertising, is seeing some softness.