Putting Mark Zuckerberg's $16.8 billion wipeout into perspective
Putting Mark Zuckerberg's $16.8 billion wipeout into perspective
Facebook Stock Down 9% Following Q2 Revenue Miss, Slowing User Growth
26 July, 2018, 13:25
Chief financial officer David Wehner told analysts in a follow-up call to brace for a possibly deeper slowdown as the company seeks to expand new offerings such as Stories and increase privacy and security for users.
The Menlo Park, Calif. -based company reported second-quarter earnings that bested analyst estimates, but the results fell short of projections for revenue and daily active users. Revenue increased 42 percent to $13.2 billion, missing the $13.3 billion Wall Street consensus.
The social media company has contended for years with criticism about its content policies, its failure to safeguard private data and its changing rules for advertisers.
Wehner said revenue growth "decelerated" in the second quarter and will decline "by high single digit percentages" and added that "we are also giving people who use our services more choices around data privacy which may have an impact on our revenue growth". "We are committed to investing to keep people safe and secure, and to keep building meaningful new ways to help people connect", Facebook CEO Mark Zuckerberg said announcing the company's second quarter earnings.
What is your opinion over Facebook's Q2 2018 earnings? Instagram's business model is so far the most mature, and likely contributed meaningfully to the company's revenue in the quarter, analysts have said, though Facebook doesn't break out sales for the app.
Daily active users reached 1.47 billion, and once again, these numbers could haunt Facebook (NASDAQ:FB) as growth reached a low 1.44 percent compared to Q1's 3.42 percent.
There's a scratch in Facebook's Teflon coating as the social networking company loses approximately US$150 billion ($219b) in market capitalisation in under two hours, Reuters has reported.
The General Data Protection Regulation (GDPR) in the European Union also will cause a revenue drop. Facebook said mobile made up 91 per cent of ad revenue in the recent period, compared with about 87 per cent a year earlier.
The update showed the key metric of monthly active users rose 11 per cent to 2.23 billion, below most estimates of 2.25 billion, while daily active users grew a weaker-than-expected 11 per cent to 1.47 billion.
Shares in the technology company and publisher plunged by nearly 25 per cent in late trading after David Wehner, chief financial officer, said that Facebook's revenue growth would decelerate in the second half of the year and expenses would soar in 2019.
Still, Zuckerberg assured investors that Facebook continues to see growth on its core platform, as well as its other properties, which include Instagram, WhatsApp and Messenger. Together, the entire Facebook suite of products has 2.5 billion unique monthly users, the company disclosed for the first time. The company said headcount was 30,275 as of June 30 - an increase of 47 percent year over year.
Wednesday, July 185-5:30 p.m. " This is not like her at all ", Tibbetts' aunt, Kim Calderwood , told local ABC affiliate WOI . Her family and friends continue to search for clues and answers, and plead for anyone with any information to come forward.
Also Monday, Israel said it fired a pair of missiles to intercept two missiles fired from Syria in Israel's direction. The White Helmets "used to see death while doing our work saving lives from underneath airstrikes and barrel bombs".
I don't mind him dealing with Russian Federation , I just want to deal with Russian Federation from a position of strength. But Trump's praise of Putin also endorsed other items on the Russian agenda that should not have been left unchallenged.
He is a footballer who has contributed a great deal to the national team. "I think his time to play in the national team is over". Mesut Ozil's shock retirement from global football caught Germany head coach Joachim Loew by surprise, it emerged on Tuesday.
Geraint Thomas signed autographs before the start of Sunday's stage, but some fans have booed the Sky rider in his yellow jersey. 'I would like to offer my honest apologies to both Elie Gesbert and Team Fortuneo Samsic for this unacceptable incident'.
The " Stand Your Ground " law has come into effect in Clearwater, Florida, in a case of a disputed parking spot turned deadly. McGlockton, leaving his son in the store, rushes outside and directly up to Drejka, shoving him hard onto the ground.
A GoFundMe page raising money for a $5,000 annual scholarship fund in Fallon's honour had raised over $10,000 by Tuesday morning. Two people were killed after a gunman opened fire while walking down a busy street in Toronto on Sunday night.
According to sources, Abdul Ghafoor Hoat was inside the house when unidentified gunmen fired shots at his house. With cricketers all geared up for elections, hockey players are no way behind the league.
He also said the government has "heartlessly repressed its own people's human rights, dignity and fundamental freedoms". But in a split with European allies, Trump said in May that the deal was a disaster and chose to leave the pact.
Greek wildfires toll rises to 79 amid search for survivors
In Finland's northernmost Lapland province, fires have ravaged woods and grassland close to the border with Russian Federation . The fires are the worst Greece has experienced in over a decade, seeing dozens of homes destructed. "People are shocked, lost".
Cohen Tapes 'Payback' for Clinton's Loss — Fox & Friends
In it, the president discusses paying for the rights to Stormy Daniels' story of her alleged affair with Trump years earlier. AMI acknowledged holding those rights when it relinquished them in April after McDougal had filed a lawsuit against AMI.
The longest lunar eclipse of the century is coming Friday
One of those promoting the idea that the Red Moon marks the end of the world is a pastor called Paul Begley, who is from Indiana. In Melbourne, Sydney and Brisbane the moon will begin to turn red at around 4.24am Australian Eastern Standard Time on Saturday.
CVS Apologizes After Pharmacist Harasses Trans Customer
It was later filled at a Walgreens pharmacy "without question". "CVS Health extends its honest apologies to Ms. Companies often have individual policies to ensure customers are still served respectfully and efficiently.
Trump plans to give billions in aid to farmers hurt by tariffs
To date, every time that the Trump administration has imposed a tariff on China, China has imposed an equal tariff on USA goods. The Agriculture Department is announcing a $12 billion "short-term" plan to help US farmers hurt by retaliatory tariffs.
Brailsford slams Tour fans for hostile Sky reception
Froome sits a minute and 39 seconds behind race leader Thomas in the General Classification at the start of the final week. In a statement, Brailsford said: 'Obviously Gianni has left the race, which is very disappointing.
Sarri wants to keep Hazard at Chelsea and improve him
However, Sky Sports says the Blues don't want to let the 26-year-old leave until they have brought someone in to take his place. Sarri would not respond to further transfer questions, but expressed some doubt over the central midfielders at his disposal.
Imran Khan-led PTI poll favourites, reveals survey
Many believe that Khan has the backing of the military, which continues to maintain enormous influence in the country's politics. In Sindh, Pakistan Peoples Party (PPP) chairman Bilawal Bhutto Zardari will also address rallies in Jacobabad and Shikarpur.