Facebook (FB) didn't exactly hit a home run in its quarterly earnings report Thursday, but it didn't disappoint, either. Still, investors were concerned and took the stock down to record lows in after-hours trading.

The social networking company reported an adjusted profit of $295 million, or 12 cents a share, on $1.18 billion in revenue. That was in line with analyst expectations on profit and slightly more than the $1.15 billion expected in revenue. If you include costs related to share-based compensation and payroll taxes, Facebook reported a loss of $157 million, or 8 cents a share.

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The company did not include any guidance or forecasts in its report, which stunned investors. In fact, the release was surprisingly light on details.

Shares of Facebook were tanking in after-hours trading, falling more than 10% to a record low of under $24. That was on top of losses of 8.5% earlier in the day.

Thursday's report was the first time Facebook offered earnings as a public company, and the event was closely watched by investors. They wanted to know if CEO Mark Zuckerberg would participate in the earnings call (he did) and if Facebook would show any traction on mobile advertising (not yet).

But mostly, they wanted to know if Facebook could move past the drama surrounding its disappointing IPO and gain any momentum. The answer to that remains unclear.

Facebook said the number of worldwide daily active users rose 32% from a year earlier to 552 million in June. But at the end of March, the number of daily active users was 526 million. That's a gain of just under 5% in three months -- a significant slowdown from growth of 9% from December to March. In fact, that was one of the slowest quarters of user growth in company history.

Furthermore, much of that new growth came from Brazil, India and Japan -- areas that don't offer as much per-user revenue as the United States. The amount of revenue per user that Facebook gets rose by just 2 cents to $1.28.

More Facebook users are moving to mobile, an area in which Facebook is just starting to grow advertising. As a result, the company said, ad impressions are growing more slowly, and fell 2% in the U.S.

Facebook's operating margin has fallen to 43% from 53% a year earlier.

The share price drop during the trading day was largely related to the poor earnings report Wednesday from Zynga (ZNGA), the online gaming company that is a key business partner for Facebook. Zynga missed analyst expectations on revenue and earnings. It also cut its guidance for the year, based on a delayed product rollout and weaker user numbers from Facebook.

Zynga's numbers triggered investor concern that Facebook would also have problems in the quarter.

Facebook has been in the investor doghouse since its May 18 initial public offering. The company raised $16 billion after the IPO was priced at $38 a share, but the stock stumbled in its first day of trading and closed at $38.23. The stock fell below $30 within weeks, and though it managed to climb back over $30 earlier this summer, it's been below that point for nearly the last two weeks.

The reaction to Facebook's earnings was widely varied. "A little bit of earnings guidance, a little bit of optimism about future performance would have been nice," Jordan Rohan, an analyst at Stifel Nicolaus, told Bloomberg.

"The big question with the stock is how it will monetize its billion or so users," Michael Matousek, a senior trader at U.S. Global Investors, told Reuters. "A lot of people think they can't convert those users to money. It doesn't look good with this new information out there. I don't want to say the story is broken, but the story is kind of broken."