Zuckerberg loses more than $15 billion in record Facebook fall

Facebook suffers its worst loss ever in history

Facebook suffers its worst loss ever in history

The stock plunged 19 percent in early trading Thursday, eradicating well in excess of $100 billion in market value.

Facebook has recorded the biggest fall in corporate history as its value plunged by $120bn, when markets opened in NY.

Facebook's grim forecast predicts that margins will be much lower for the next few years due to "more choices around data privacy" as well as currency market predictions and the GDPR, according to a statement made by Facebook CFO David Wehener during the earnings call. USA and Canadian traffic was flat from the previous quarter, while Europe shed 3 million average daily users quarter over quarter, down to 279 million.

Facebook said the slowdown will come in part from a new approach to privacy and security, but also appeared to acknowledge the limits of growth in advertising, which accounts for virtually all its revenue.

In an understandable development at the announcement, Facebook's stock has taken a tremendous nosedive, down almost 20% at peak. Its shares also fell off the cliff in March in the wake of the Cambridge Analytica scandal.

The second-quarter results were the first sign that a new European privacy law and a succession of privacy scandals involving Cambridge Analytica and other app developers have bit into Facebook's business.

The personal wealth of Facebook co-founder and chief executive Mark Zuckerberg took a major hit.

Unai Emery replies when asked if Arsenal will make any more signings
He has grown up in the academy and we need to give young players the chance to work for us every day and play matches like today. Unai Emery has revealed that Arsenal are keeping an eye out on any opportunities in the summer transfer window.

Facebook topped second-quarter earnings expectations on Thursday while revenue fell short.

Like this story? Share it with a friend!

The company issued a warning to investors about a deceleration of growth in its userbase, leading to a stock drop of around 20 percent. Facebook revenue is still growing at a rate double that of Twitter Inc.cade ago, nearly no one could have imagined that Facebook would have more than 2 billion users, much less that its family of apps - Instagram, WhatsApp and Messenger - would also count members in the billions.

Still, 4C saw more ad revenue pumping through its platform going into Facebook, Goldman says, especially into its Instagram platform.

What drove the selloff: Investor concern about Facebook's growth cooling down.

Advertisers and brands, he goes on, are still seeing strong ROI from advertising across Facebook and Instagram. This week, Colin Stretch, who led Facebook's investigation into Russian election interference and who testified before Congress last year on Facebook's behalf, said he would leave the company by the end of the year. The social network missed analysts' expectations of $13.36 billion in revenue, while Q2 2018 marked its slowest ever user growth rate.

Poletti said the steep decline was "stunning not only because of the scale, but because Facebook had managed to avoid this type of punishment through a multitude of sins too numerous to fully list here".

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.