Facebook Stock Down 9% Following Q2 Revenue Miss, Slowing User Growth

Facebook Stock Down 9% Following Q2 Revenue Miss, Slowing User Growth

The company had cautioned investors to expect a big jump in costs because of efforts to address concerns about poor handling of users' privacy and to better monitor what users post.

While it was the company's first full quarter following the Cambridge Analytica privacy scandal, analysts attributed the user growth shortfall largely to European privacy rules that went into effect in May.

Facebook generated revenue of $13.23 billion during the quarter ending June 30, compared to $9.32 billion during the same quarter a year ago. However, ad sales seemed unaffected by the scandal, rising 42% in the quarter to $13bn (£9.9bn).

The Menlo Park, California-based company said it had profit of $1.74 per share, short of Wall Street expectations of $1.75 per share.

But the market wasn't just reacting to Facebook generating less revenue than expected.

Facebook's tally of second-quarter global daily active users, a key metric for tracking user engagement, rose 11% to 1.47 billion.

Egypt's Mohamed Salah nominated for Federation Internationale de Football Association best player award
Federation Internationale de Football Association have confirmed that the Belgian features among the nominees for the award. At the ceremony in London in September, FIFA will make awards to the best goalkeeper, the best goal, and a fan award.

Hard-line cleric, speaker vote in Pakistan
The election is a two-way race between parties led by former cricketer Imran Khan and jailed ex-prime minister Nawaz Sharif. Former Pakistani cricket stars have come out in support of Khan and his political party, Pakistan Tehreek-e-Insaf.

Your Dog Knows If You're Upset And Will Try To Comfort You
In contrast, dogs in the humming condition showed a slight tendency to open more quickly if they were reported to be more anxious. And she's stuck behind a odd Perspex door in a USA laboratory? And according to a new study , your pet dog may be happy to help .

Although Facebook shares were in a slump after the Cambridge Analytica scandal broke earlier this year, the stock had risen sharply and hit record levels this month.

But it forecast that Instagram, which is owned by Facebook, would add about 1.6 million users in that age range in 2018.

Almost all social media services have received greater scrutiny since USA intelligence agencies in January 2017 revealed that organizations tied to the Russian government had seeded content on the platform to shake up the 2016 US presidential election.

"GDPR was an important moment for our industry".

What's more, daily active users have effectively been flat in the USA sequentially, and even declined in Europe when compared to Q1 - the first time the company has ever seen such a decline in recent quarters. "We started to see that this quarter", Zuckerberg said during Wednesday's earnings call, while promising to keep investing in fighting fake news, especially around elections.

For advertisers, though, Facebook and Instagram are performing as well as ever. That has left Facebook as a leader alongside Alphabet Inc's Google search engine and YouTube video service.

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