MarketWatch First Take: Facebook’s rapid growth is about to slow down

Don’t get too giddy about the heady growth Facebook reported Wednesday, because the company threw up a giant caution sign in its conference call.

Facebook FB, +1.75% said it expects lower ad revenue growth in the next two quarters, explaining that its ad load would “grow modestly” in the next 12 months after a rapid deployment of more ads in users’ news feeds recently. After Chief Financial Officer Dave Wehner made those comments on the company’s earnings call, Facebook stock, which was surging in after-hours trading on its huge revenue and earnings beat, pulled back a bit.

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