Facebook shares down on lack of financial outlook

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Monitors show the value of the Facebook, Inc. stock during morning trading at the NASDAQ Marketsite in New York June 4, 2012. Credit: Reuters/Eric Thayer Fri Jul 27, 2012 9:27am EDT (Reuters) - Facebook Inc shares were down nearly 16 percent in pre-market trading on Friday after the company's lack of a financial forecast reinforced concerns about its mobile strategy, which will result in rapid cash burn in the near term. The social network, which reported its first quarterly results as public company on Thursday, managed to just beat revenue expectations. "Based on the aftermarket reaction to…

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