(CNN) - Bad news for Facebook - the company's stock lost steam after it admitted young teens are losing interest in the site.
Last quarter, CEO Mark Zuckerberg said it "just isn't true" that the company has a problem with the teen market.
However, this quarter, CFO David Ebersman said the company saw a decrease in daily users.
That statement, plus the fact that the site is not going to increase its number of ads, sent shares lower in after-hours trading.
Facebook shares had been up as much as 15 percent Wednesday, prior to the social networking giant's admission.
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