Wednesday, 22 August, 2018

Facebook Stock Decline Is Largest One-Day Drop in U.S. History

Facebook shares sink 8% as Q2 revenue and user growth misses analyst estimates Facebook stock dives nearly 20% on warning of slow revenue growth
Lloyd Bates | 28 July, 2018, 19:51

He was listed Thursday as $81.9 billion poorer than Jeff Bezos, who still hold the top spot on that list.

Chief financial officer David Wehner triggered the selloff when he said sales growth would continue to slow through the rest of the year. 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. Those problems hadn't mattered to the success of the business - until now.

Wall Street investors have recently seemed to think that tech stocks were a slam-dunk, Facebook's a reminder that in the stock market, there are no guarantees. On Thursday, he lost $17 billion of his fortune, Facebook shares dipped nearly 20 percent, and now, some shareholders want his influence on the company reduced. Eastern time. Snap's shares were down by more than 2 percent. We're starting to see that this quarter.

RBC Capital Markets analyst Mark Mahaney said the drop creates a rare buying opportunity for Facebook shares.

North American DAUs remained flat despite the fallout from the Cambridge Analytica data leak scandal and fake news issues.

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He lost a Republican primary for his seat on May 22, but he could have remained in public office through to the November election. In a second section called "How to stop a kidnapping" Mr Spencer loudly shouted the n-word several times to "attract attention".

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The White House is also inviting Mr Putin to Washington this fall, for a first visit of a kind since 2005. Instead, GOP leaders are considering new sanctions on Russian Federation .

Gene Munster, a venture capitalist at Loup Ventures, said in an email that Facebook is "entering a new period" where declining user growth will translate to slower revenue growth. "Facebook has also been sucked into the probe into alleged Russian meddling in the 2016 presidential election". "Our view is that the company is far from out of the woods", Brian Wieser of Pivotal Research said. Global DAU rates increased by 11% compared to the year-ago quarter, but they were still below what Wall Street was calling for. Analysts were expecting $2.1 billion, according to Thomson Reuters. "Deceleration such as management guided towards suggests that while the company is still growing at a fast clip, the days of 30%+ growth are numbered". However, average revenue per user in the region rose despite the lack of growth.

Facebook's shares recovered somewhat after the call.

Facebook has been playing favorites with certain users and companies who lean left politically, silencing pro-Trump people and companies including the influential Diamond and Silk. I saw them sprawled out across airports recently when I traveled, and it was definitely weird to see them.in-person, letting me know they're protecting my data more, on my phone. all while I know they don't. The company may have halted more ad purchases than expected as it applied a broad definition of what's considered "political". There are suggestions that Facebook itself has been hinting at a slowdown for some time - but the markets failed to see it coming, hence their panic.

Cutting Zuckerberg's influence on Facebook has previously been rejected by shareholders. The company said it now expects third-quarter sales of between $54 billion (roughly Rs. 3.7 lakh crores) and $57.5 billion, up from $43.7 billion a year earlier.

Shares traded 19% lower on Thursday, wiping out $US120 billion ($AU162.6 billion) in market value. That surprised investors because of the belief that the new laws wouldn't hurt revenue. Mobile now makes up 91% of the company's advertising revenue.

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