12 Sep 2012

Zuckerberg disappointed at drop in company's market value

12:35 pm on 12 September 2012

Facebook chief executive Mark Zuckerberg has spoken for the first time of the drop in the company's market value.

Mr Zuckerberg called the drop in the value of the social network company disappointing.

The value of its shares is now almost half the $US38 debut price in May.

At a conference in San Francisco, Mr Zuckerberg said the stock's performance had hurt morale, but employees would stay focussed.

He vowed that Facebook will make more money on phones than on desktops.

The comments drove Facebook's share price higher in after hours trading on Tuesday.